Hey y'all,
Wanted to post to get some of your thoughts on Wells Fargo's energy banking group out of Houston. What is the pay like, reputation, and outlook?
Am currently going through the MBA associate recruiting process and am targeting energy banking so would love to hear where WF stands among the crowd within energy banking/Houston. Any insight on how WF fares in HTX would be greatly appreciated!
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Plenty of capital markets work to go around this shop as they dabble in all the energy debt funding.
M&A not a powerhouse. But get hired on good deals every blue moon.
Midstream is known to be active.
Culture not as bad others, but heard there are some VPs that are borderline intolerable.
Solid exit opps for the folks I knew who worked there placed in PE or PE port cos.
People are nice, at least the ones I've met, but sweaty. Saturday work is not uncommon. Only Friday night to Sat morning is protected. It's not that the culture is toxic. It's just that from an organizational standpoint, they're set up to run the juniors into the ground. The problem is there isn't a good line between what is IB and what is corporate banking over there, and since they're such a large commercial depository bank, expect to get hit with a ton of credit memos and similar. I don't know why they don't have their LevFin team out of Charlotte offload some of this. Their heritage is commercial banking so you'd think they'd have this dialed in by now. That said, I guess we'll see if some of the CS NY M&A and sponsors talent that Wells Fargo has poached can boost their IB creds and maybe force the organization to run more efficiently. The problem isn't people who are assholes. They're generally pretty chill IMO. It's just the way their team is structured, it becomes a meat grinder for juniors.
Idk of anyone who doesn’t work Saturdays in O&G?
Rather uncommon at the old CS team pre-blowup and from what I've heard not too common at BofA
Bump
Bottom tier of the BBs.
They have never placed well - historically or currently. Weak for M&A as someone else mentioned
I’ve seen them pop up on a few big deals this year
Just saw they were the lead on a 2bn sell-side. Aera energy
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