Wells Fargo S&T outlook?
I'm aware the new CEO has said he wants to focus on growing the IBD, but I was wondering if there will also be more a focus on markets? WF offers competitive salary, and with Scharf + potential lifting of the asset cap, could WF be a bigger player/actually see growth within S&T over the next several years?
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I interned at Wells this summer in S&T and it while there is a push to build out the IBD, I highly doubt there will be much investment in S&T. The S&T division pays below market (base still 85k compared to GS, JPM, MS etc. now paying 100k+) and bonuses are also below street. Also, the division remains very top heavy and has a small class relative to other banks (total s&t class was about 30 split roughly in half between fixed income and equities)
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