Hi guys, I am very interested in Wells Fargo and was interested in seeing what the best groups are for the bank. I know that FIG, Industrials, Lev Fin, and Sponsors have historically been strong but wondering where they stand today. Thank you!
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Don’t think WF has a sponsors group
They do
Wells Fargo does have a Sponsors group. Instead of Sponsors they call it Global Institutional Client Group.
Why are industrials always mentioned as a “top group?” Where does that come from? Sponsors doesn’t have a lot of juniors either and even if they did I wouldn’t consider them a top group given the lack of LBO activity historically (not counting Wachovia). The bank is becoming a lot more open to LBO transactions but that still hasn’t fully materialized.
From a revenue perspective, in coverage, I believe that FIG is number 1 and TMT number 2. Industrials doesn’t do close to the amount of business that FIG does. Lev fin doesn’t do their own modeling, something to keep in mind.
Don’t think they have a sponsors group, only financial institutions. Had a superday with them 2 weeks ago, Sponsors wasn’t an option when ranking preferences.
During my interview with an MD I asked if their FIG is mixed with FSG and MD just said no they’re different but didn’t give much insight.
They do have a sponsors group
They call it global institutional client group.
Where do you get the stats on revenue by group from?
I know because I know but you can kiiiiindd of tease it out on a BBG terminal.
Regal
REGAL is definitely one of the top groups on the street from my experience. Consistently place very well in PE, strong culture from Eastdil days, and decent WLB. Hidden gem on the street for sure. LevFin does really well along with most things debt-related. Have heard great things about industrials one of the best on the street. Most other groups at WF are just not as strong relative to their peers so I would keep that in mind with some of the groups.
Where are you hearing these great things about industrials? Not trying to dog the group, I’m just trying to understand where this is coming from on this website. There are a number of other groups with stronger deal flow and considerably more fees.
Honestly, for industrials everything I have heard has been word of mouth. So not too sure
Any thoughts on E&P?
Wells reincarnated their sponsors group as global institutional client group ("gicg") as some have mentioned.
Lev fin gets a lot of deal reps since Wells is traditionally a debt shop. However, due to institutional directives that are were lifted only about a year ago Wells is now only just starting to finance LBOs which is what I consider "real" Lev fin. Also why gicg just got recreated.
Real estate is pretty strong, Lev fin is pretty strong. m&a seems like both a sweatshop due to junior turnover but without the deal reps, so sounds like the worst of both worlds.
WF capital markets groups are stronger on a league table basis than their coverage and M&A groups (since both are dragged down by incredibly weak M&A performance). Debt>Equity at WF. LevFin probably the best bet since DCM isn't particularly interesting. Apparently they're doing more sponsor/acquisition finance, so LevFin would definitely be the place to take advantage of that.
Maestro feels like an incredibly weak LF banker at WF
Can someone speak to Consumer and Retail?
ive heard they just work a TON of hours and have to pitch a lot. group is not very strong compared to other major players/ competitors.
Bump
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