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Comments (22)

  • Associate 1 in IB - Cov
Nov 22, 2021 - 11:24am

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. 

Nov 22, 2021 - 1:24pm

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.

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  • Associate 1 in IB - Cov
Nov 23, 2021 - 1:09pm

I know because I know but you can kiiiiindd of tease it out on a BBG terminal. 

Nov 22, 2021 - 9:43pm

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.

  • Associate 1 in IB - Cov
Nov 23, 2021 - 12:23pm

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. 

Nov 23, 2021 - 9:37am

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.

Nov 24, 2021 - 3:52pm

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. 

  • Associate 1 in S&T - Equities
Nov 27, 2021 - 7:14pm

Can someone speak to Consumer and Retail?

Nov 27, 2021 - 7:56pm

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