Wells Fargo CIB
What are overall thoughts on WF for Investment Banking.
I have a summer associate offer there and the team has done a great job selling growth in the division. CEO Scharf is a Jamie Dimon protege and from what he has said, there is definitely an emphasis to focus on IB as a catalyst for growth at the firm. They've also hired tons of MDs as of late which supports that want to grow the IB division.
What are overall thoughts??
I work at WF and think you have a good point on the company emphasizing IB growth as seen through their insane office in Hudson Yards. Also the asset cap should get lifted within the next 3-5 years which will be huge for the stock. Downside is not as much M&A at other big shops but the culture is great. Far from a sweatshop. I work in a top group as an analyst and haven’t touched 80 hours. Usually around 50 sometimes less sometimes more. Comp is in line with street
They did just crack the top 10 for the M&A league tables this year. There is a bloomberg article somewhere about it.
Indication is that they are trying to grow CIB division and in my opinion from conversations, they will continue to grow in M&A. They have what it takes to make it happen