Status of Wells Fargo investment bank? Best groups?
Curious how recent regulatory action / scandal has affected deal flow and sentiment on the street for WFs IBD. Also curious which groups are best. Thanks.
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I'd say whereas Wells was once BB status they're probably teetering on the edge of it now in terms of the hit their reputation has taken.
Their groups are still respectable overall. I'd say Lev Fin is probably their best group.
Honestly, I have no clue why people on this board think Wells Lev Fin is a good group. They haven't done very many deals over the past couple of years as the credit markets have loosened. They only participate in LBO's on the far right and occasionally will lead a term loan B, but not in a routinely meaningful way.
My guess would be that industrials is probably their best group as they consistently have involvement in 100mm+ EBITDA sell sides
(I don't work for Wells)
I can agree with this.
LevFin isn't very involved in the TLB market but gets slightly more involvement in the HY markets. Overall though, Wells Fargo's credit model is conservative and prevents them from taking leadership on a big portion of leveraged credits. Also, as an analyst in LevFin, you are mostly going to be doing work that is focused on distribution risk/market color (e.g. comps) and may not have as much exposure to technical work such as modeling.
I would second industrials. Energy has historically been a strong platform with mandates across the capital structure. Some groups in TMT have done well. FIG is ok.
Just to give any prospective monkeys a heads up, the way that Wells Fargo does placement for their "investment banking" internship groups is really shitty. Unlike most other banks, Wells will place you in both a group and a city after you sign the offer, and they group stuff like Public Finance and Asset Backed Securities under potential investment banking groups. So if you sign a Wells internship offer expecting to get placed in something like M&A or Industrials in NYC, you could very well end up doing MBSes or loan syndications in Charlotte (where most of their headcount is). With their incredibly shitty group placement process and the recent scandals/regulatory actions, I'd recommend you fully explore your options with other banks before locking yourself into servitude with Wells.
You can read the full post about my experiences here: https://www.wallstreetoasis.com/forums/a-warning-on-the-wells-fargo-sec…
I'd say Industrials is prob the best group, Consumer/Healthcare follows
bump
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