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?
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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.
thanks for the reply, but for clarification what do you mean by "they trade some bonds there", is there actually a whole desk there or how does that work?
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.
could someone confirm if there's any desks in nyc at all for wells?
thanks in advance!
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