Is Wells Fargo a BB?

Based on the most helpful WSO content, Wells Fargo (WF) is not traditionally considered a bulge bracket bank. The term "bulge bracket" refers to the largest full-service banks with an international presence, and WF's operations are primarily US-based. However, WF has seen significant traction in M&A over the past two years and has been making key hires, which could indicate growth in their market share. Despite this, they would need to establish a more international business to be considered a bulge bracket bank in the traditional sense.

To address your follow-up question '1', here's more detail: - WF has been commended for its performance in M&A in the last two years, but there are questions about its ability to maintain that portion of the business in the future. - The bank's recent hires are considered "real deal makers," which could help in its growth and competition with other US balance sheet banks like Citi or BofA. - To truly reach BB status, WF would need to expand its international presence, as it is currently seen as a predominantly American institution without a significant franchise in London or Asia.

In summary, while WF is gaining ground, especially in M&A, and may be on its way to competing with other US banks, it does not yet fit the traditional definition of a bulge bracket bank.

Sources: Is Wells Fargo poised to become the next BB?, Is Wells Fargo poised to become the next BB?