Wells Fargo Group Placement
How does it work and what groups would you guys recommend I reach out to? I don’t have a huge interest in a specific coverage I guess but just want to be at a good group within the bank that will give me a safe job and good exits? What are the best groups to start networking with
Wells runs REGAL along with BofA. They have good seniors, due plenty of work with BX, and have a massive CRE balance sheet that helps them win business. Exits to BX REPE, Carlyle and KKR aren't uncommon.
FIG is also very solid along with industrials
Damn is the REGAL group really that strong? Saw some recent exits on LinkedIn and it does seem super strong. Is the group super sweaty tho and is the culture really bad?
Yea, they're a powerhouse in Real Estate.
I believe the group is sweaty though but the culture is great from what I hear. You'll work a ton but the bankers in the group are super close and seniors are respectable to their juniors
another thing to mention is the Sponsors group, which has traditionally been weak is on a tear right now with senior hires and is a big focus of the overall IB division. It might be quite a gamble but I do believe the group will be coveted sometime down the line
At wells and did the internship, don’t wanna regurgitate info from other threads on the topic but getting a group you want is fairly easy if you’re not waiting til like the last month before selection day. Don’t have to network a ton before then but at least talk to some folks.
Regarding what coverage or product groups you should gun for - chose the ones you think you’d be interested in/groups with folks you really click with during networking. Only caveat, sponsors takes like 2 or 3 kids max so if you want that group maybe gun for it early but otherwise most groups take enough people (5-7 per location) that if you’re networking appropriately you’ll get the seat you want
Will say the only group that really exits well currently is REGAL. Industrials has some ok mid-sized MM PE exits every so often but on average almost every other group incl Industrials doesn’t really send anyone to anything that isn’t okay corp dev, LMM and MM PE usually not in a major city, and laterals to banks with better exits. But if you’re looking to stick around banking and not hate it, really can’t think of a better place
what makes WF the place to be if you want to stick around banking and not hate it? I am thinking of banking long term so would love to hear your insight into that
Simply put, It’s way better WLB. I work there and don’t have too many late nights and can typically push work off if I want to go get dinner or something during the week. I’ve found that my own lack of time management has made the job hard, rather than insane deadlines from seniors. I think going up the ranks here is more sustainable than what I’ve heard is the case at other firms. Haven’t been able to convince myself to leave since the hours are chill and I get paid a lot. Do I have personal satisfaction? No, not at all. But, I’m not sure if that’s entirely possible to find at any larger institution so that’s that.
How do you network with the groups? Do they give you a list of people to reach out? I accepted an offer for 25 and havent received anything yet
and does regal usually place only in REPE?
What was the group placement process like? Did they fly you out?
I know this is old, but around what month did you begin networking before your summer? Would October be too early?
Bumping. I think HR will let us know soon so I’m waiting until then.
Regal, fig, and industrials are the strongest coverage wise. In group placement, M&A is usually the most competitive so be weary if you are going for that.
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