Wells Fargo? Expanding IB
is WF one to watch for the future? what is everyone's thoughts on their expanding IB
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Obviously has to room to grow, they just need to handle their asset cap / regulatory issues first before substantially growing their IB business.
As a top BB in the investment banking field I think it makes sense to lean into their competitive advantage. To the moon!
Bump
??? what?
Top MDs aren't going to touch that dumpster fire unless they overpay. Until that happens, I wouldn't count on WF emerging seriously for many years, particularly on the M&A side.
They’re top 3 in the league tables, jackass
With only 5% of their fees from M&A, it's no wonder they are desperately repeating their infomercials on Bloomberg. I bet the My Pillow guy can run a better process.
Yes. Will it take some time? 100%. But you are seeing signs of the expansion internally already.
how so?
by letting know to the whole company that yesterday Holly finally turned 21 lol
.
Outside of a ton of uninformed statements above, their new office at HY is seriously sick af.
This doesn’t matter if they continue to pay below street for guys at the top and penalize IB guys who had nothing to do with the retail banking scandal
I thought wells paid street?
Wasn't meant to inform a career choice...
Wells analyst here - the hours are great, the hudson yards office is sweet, and the pay is street. MF exits aren't likely, but MM PE exits abound. It's a nice gig, honestly. Also one protected weekend per month, and protected friday nights from 630pm to noon on saturday
What are your hours like and how different are the hours for associates?
Wait you’re actually out of the office by 6:30Pm on Fridays...every weekend? Fuck man that’s not bad.
It was a new initiative that began over the summer. It's actually 6pm and from what I have seen, deal teams stick to it about 95% of the time.
yup, every weekend
WF will never get talent or respect from top candidates if they continue with their wonky placement process. Why would any Wharton kid sign with WF when there's a chance they get placed in Charlotte, without the pay or exits to compensate for it?
I can’t speak for the analyst level but most of the quality summer associates got the groups they wanted (if they really wanted them). I networked like crazy and got my top choice.
This year? The analyst placement seemed to have been an issue and the associate placement hasn’t happened yet.
The truth of the matter is that they need to fix the placement stuff. If you search around here/the internet it’s extremely prevalent. My friend’s little brother is not in a great situation there (not the office he wanted and even worse not even in IB really). People are aware of this and I would imagine lose talent because of it.
Saying it’s fine isn’t helping matters. They need to run the same process that other banks do. Can everyone get M&A? No...should everyone get to work in the state they want to work in? Yes. To solve that you run separate processes by office.
so everyone seems to be talking about analyst placements etc which is fine in terms of attracting jr talent.
i'm talking about expanding IB more generally. products, markets, business lines up and down capital stack (not just. debt), etc
what everyone think about their ABF team
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