PE Exits from WF?
Recently got an offer here and I was curious to hear about what type of PE exits Wells Fargo typically places into? I'd also love to gain insight into any sort of other industry exits that may be possible (particularly very interested in HF if that's an option).
I know it may be presumptuous to be worried abt exits before actually being on the job, but I think having a buy-side role would just be more interesting for me overall. Excited overall and would love to get some information/advice!
I have a friend at WF, he said exits aren’t super hot. Mostly people going into LMM / MM shops if any. Can’t speak to all groups though so could vary
I see, that's understandable. As long as MM PE placement is possible, I'd be satisfied with that. But if it truly is very difficult to place from the not-so-great groups, then I might have to look for FT re-recruitment based on wtv group I'm assigned lol
You will have to go through the placement process, so you won't be randomly assigned to a group unless you don't network and spend time talking to your top choices.
Bump
Exits vary within the group. For some of the banks stronger groups (M&A, FIG, REGAL), the exits aren’t bad but for others, like mentioned below, they aren’t too hot.
For those stronger groups, what would be some examples of typical/notable exits?
We can take a look at their real estate, gaming, lodging and leisure group for example - came across the analysts that exited to Bain Capital, Oaktree, and Brookfield AM so far. Sure there are more firms if you do LinkedIn search
What about LevFin and Sponsors?
How does the group assignment process work for Wells
You have to network with the groups on your own accord before you get flown out to NYC to meet the groups in-person during a two day event. After the networking period/in-person placement days take place, you fill out a preference form where you force rank every single group 1-15. Then, the groups will rank the interns as well and it becomes sort of like a matching process. If you put a group #1 and that same group ranks you #1, you're pretty likely to end up in that group. I will say, it's a super competitive process, but if you're pro-active and strong with networking it's not that bad.
For networking prior to that NYC meetup, should we email the groups we're interested in and have informational calls similar to how we did for recruiting?
Currently work at wf so likely have the most current info here.
I will agree that strong exits are a bit sparse at wf, but it's definitely driven a lot by self selection. A lot of people don't even try to exit at all because culture is great and you get paid pretty well here.
But I know of a number of strong umm / mm PE exits over the past year and the outgoing class. So it's definitely doable if tot are interested
Good to hear and thank you. How would you rank NYC groups in terms of exits? I know REGAL is probably the best for this case, but curious to see how the other groups compare with one another.
Yes real estate, m&a, industrials are probably the best
This is very helpful, and glad to hear regarding the overall nature of the bank. Quick question, how’s the fund finance group as far as culture/WLB in your opinion?
MMHF doable, but you’ll need to do a lot of work to prove you can produce ideas that make $
Solid, that makes sense. Thank you
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