Wells Fargo Leveraged Finance
Curious if anyone can give some updated insights into the group, most of the stuff on the site is from a few years ago.
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Top ABL lender and Top 4 Leveraged Loan lender. Their Asset Cap Penalty and reputational issues have made it hard to compete with BofA and JPM (run a LevFin duopoly in the US).
I do not know about exits, modeling, or structure, however.
Uhh Credit Suisse?
CS LevFin is a great group from a junior perspective and I know folks there get solid reps. They and BofA are the 2 LevFin shops that honestly will provide top-tier exits and technical skill building. But, JPM and BofA do carry the league tables for Leveraged Loans and HY Bonds. CS is a heavy hitter for sponsor/LBO backed transactions. This does not mean they have the largest % of the overall Leveraged Finance wallet.
I think this hits a lot of the key points. Massive balance sheet bank who does some things really well (e.g. ABL). But, the whole bank is bleeding from a reputation and personnel perspective. Asset cap was also very painful to have happen right before COVID when a lot of clients needed debt financing. Eventually the bank is big enough to get back on its feet, but a lot of dysfunction right now. If you’re coming out of college, still not a bad place to get experience.
Anyone know anything about group structure, modeling or hours?
^^^
Doesn’t run with the model like CS or some other lev fin groups do. So won’t get any modeling experience. Group gets worked though and does well on the league tables.
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