may or may not have an interview with WF for a FIG role as a CIB relationship manager
Any thoughts on this team? What do they do on a day to day?
It looks like WF is investing in their IB and was surprised to see them ranked in the top 10.. not far off some BBs like CS and BARC.
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Is this for Corp banking or IB?
Is there a difference ? The title is CIB.
It’s probably IB then. I just asked because I’ve never seen the term relationship manager used.
I networked with the group. Seems like it has great culture. They definitely work long hours like any FIG group, but I’m sure it’s better than other banks. Which location are you interviewing for?
No that’s 100% CB. Relationship manager is a CB term. That’s one of two areas in CB, the other is Portfolio Management.
Wells IB is a solid lateral platform. Wells CB is really good, and RM is the side to be on.
So to OP - this is corporate banking, but it’s CB at one of the 4 banks you would want to do it at. You will work with IB regularly. RM is the point person for relationships at combined CIB banks. They rope in coverage IB, DCM, levfin etc as needed depending on the client situation.
It’s a good role
I would be careful and ask specifically if this role reports up to Investment Banking and Capital Markets or not. Yes CIB is together, but all that means is the investment bankers sit next to the corporate bankers. "Relationship Manager" is often a corporate and commercial bank title. Ask if you will need securities licensing. If it is a corporate banking job, it could still be interesting and fairly high paying, but it is a good idea to know what you're getting yourself into. Wells does seem to be investing in IB and moving NYC to Hudson yards etc. Seems like a place that is on the up and up and one that has the balance sheet to support growth.
Thanks. What is the interaction between the investment bank FIG team and the corporate bank FIG team?
Ask that VP dude. I don't work at Wells. I think that what generally happens is that they don't work much together, but if IB needs help with company specific info (ie for a credit committee report or something), they may ask corporate banking to help out/involve some of the analysts who want to help. Corporate may refer clients as well. Corporate banking will not be doing IB type stuff, they will just hand it off to IB.
This is for corporate banking, however IB and CB report to the same person at WF. I’m the VP screening people’s resume for this role. Better than Truist behind JPM/BofA. Best in the Charlotte area.
Damn yo give me the job! What is the salary range?
Also how does rhe FIG team rank across USA (not just Charlotte)
$125k base, $50k bonus.
FYI, it looks like there is a problem with the WF careers website where even IB analyst positions say job family: relationship management. I would ignore that and just look into the job expectations and you should be able to quickly tell whether this is corp. banking or investment banking. Like even positions that are clearly sales and trading are for some reason saying relationship management. Also, like someone else said you can check if they require series 63 and 79 and that will make it abundantly clear that it's investment banking if required.
I noticed that too. But this job title is “CIB Relationship Manager”.
Just trying to figure out what this actually means as it’s very broad.
It's fig corporate banking. You'll spend your time originating payment and forex services and credit to financial institutions. In non covid times the WLB is better than IB and the comp is ok. Functions are completely different than ib even if Wells has put cb and ib under the same umbrella and by extension the exit opportunities for cb will be more limited.
That being said and this applies to every post on wso asking about a group or worse ranking them, get an offer LETTER in hand first, otherwise you're speculating about a decision you don't have the luxury of making.
So maybe I’m off, but it looks like according to Wikipedia that WF can trace its history back to a bank started by Alexander Hamilton? If so, (maybe they acquired like a successor bank to something started by AHamil), that seems like a pretty nice place to start in terms of FIG credentials
that's BNY. Hamilton found that.
I think there is another bank AHamil may have started that led to WF. One to BNY maybe too
WF is way below Barclays and even CS.
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