Anyone know which groups within Wells Fargo Securities Asset Backed Finance (NOT ABL) are solid? Culture? Hours?
Trending Content - Investment Banking Forum
| +139 | Restructuring: Anti-climactic Experience | 36 | 8h |
| +110 | IB Net Worth / Savings Check | 51 | 7h |
| +100 | Woman who emptied Knicks trashcan on street then stole it was DEI exec, worked at JPMorgan Chase | 25 | 5h |
| +80 | Stop sleeping on UBS - it’s pretty good | 29 | 4h |
| +70 | Hot take: I’d rather be at Desjardins than UBS for investment banking in 2026 | 12 | 12m |
| +56 | 2026 VAULT PRESTIGE RANKINGS | 30 | 1h |
| +39 | AI + Financial Modelling | 12 | 1d |
| +32 | Hardest interview experiences? | 20 | 1h |
| +28 | Summer before college | 17 | 19h |
| +26 | Current State of UBS in North America | 8 | 2d |
Career Resources
Knew a bunch of people working in the group when I was at Wells Fargo last summer, so I can probably speak to this.
The asset-backed finance group is somewhat unique to Wells Fargo, as it combines a standard structured products investment banking function with an asset-backed lending commercial banking function. I'm not sure there are any other major banks that really do this. Anyways, the group consists of 5 main verticals: commercial operating asset finance (COAF), mortgage finance, corporate debt, subscription finance, and consumer finance. All of these verticals are based in Charlotte, although there's also a commercial real estate capital markets vertical (part of the mortgage finance group) based in New York.
The work seems to be very, very light (at least by investment banking standards); analysts work from 8:30 AM to 8:30 PM Monday through Thursday, and 8:30 AM to 6:00 PM (!) on Friday. Associates probably leave an hour earlier. I don't think anybody really shows up for the weekends. Most people work no more than 60 hours a week.
Culture-wise, there are slight differences between the verticals. I personally found the culture of COAF (the smallest group) and consumer finance to be more laid-back, while some of the people in mortgage finance seemed more straight-laced and less friendly to me. That said, none of the verticals really exhibit more clique-y/fratty culture that you might expect from stereotypical investment banking. The people in the group aren't really what I'd call standard investment bankers, but more just regular people who happened to end up in the group, and get home in time for dinner.
All of the verticals are limited in terms of work and exit opportunities. Unfortunately, there aren't really any great exit opps (in the classic sense of private equity, etc.) within any of these verticals, and the most standard path is to stay on as an associate. ABF is just too narrow of a niche to allow for broader exit opps.
Fantastic thanks for the insight. Any idea on comp at the junior level? From what I've heard, base is in line with junior I-bankers...but no idea about bonus.
Don't know much about comp-- like you mentioned, the base should be the same, but I don't really know about bonuses.
Quidem ab sed odit est exercitationem numquam tenetur. Asperiores qui consequatur dicta vel aut est id nihil.
Atque voluptates omnis illum et iusto inventore. Aut voluptate dignissimos aut. Illum neque eius non ex aut eveniet cupiditate. Sequi eos voluptates dignissimos quis. Harum non repudiandae laborum sit ipsum. Non vero nisi provident.
Tempore minus eligendi adipisci dolores labore eveniet maiores. Temporibus iusto aut ipsa hic. Ut qui eos praesentium modi nemo dolores. Molestiae libero excepturi quam mollitia fugit aut. Molestias voluptatem accusamus molestiae labore id occaecati perspiciatis. Occaecati nulla consectetur ipsa ut modi molestiae praesentium.
Non tempore consequatur id omnis est. Qui ipsum suscipit aut. Ad dolor sit nisi dignissimos quos atque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...