Wells Fargo Trading in NYC

Hey guys,

I understand that Wells has a big trading floor in Charlotte, but I was wondering if Wells Fargo had a trading floor in NYC? If so, what desks are there?

 

They really don't have much of a trading floor in New York. They made trade some bonds there but that's about it.

Their main trading floor is in Charlotte and there's a smaller sized one in San Francisco that does some commodities and rates. They also have an agency bond desk in Minneapolis.

 
downtown22:
Just in general, what is the advantage of having particular desks in different cities? Why not just have all the desks in NYC or Charlotte or w/e?

Costs, Location Risk, Safety, Contingency planning...

 

Contingency planning i.e. all banks keep lower risk presences in smaller cities after 9/11. Also WFC isn't so much a northeast focused firm as it is West Coast / Mid West / South East The bigger and MM firms tend to have niche markets by geographical preference. Commodities and futures in the midwest due to the ag sector locale + CBOE , CME, CBOT concentration in the Chicago are it just makes sense. WFC has an FX desk in Minneapolis also.

Adapt, evolve, compete, or die. -PTJ
 

Saepe quia eos qui quasi similique sapiente quas. Et aperiam sed est et.

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