Wells Fargo and their future?
Hey I had a chance to look through this report from WSO: https://www.wallstreetoasis.com/investment-bankin… and it appears that Wells Fargo is doing really well for themselves from the analyst's perspective.
I was hoping someone could give some insight on how the firm is looking in terms of exit ops and prestige. What are the best divisions? And where does the firm stand in comparison to other banks (is Wells considered a BB)?
I'd say if considered a BB, it would be near the bottom. That being said, it's continuing to grow in fees, mkt share etc. - more so in S&T I think (?). They are relatively new - Wells Securities started about just 10 years ago.
So I say it's a good place to work right now, but of course the countless scandals are worrying
Is Wells Fargo a joke?? (Originally Posted: 04/28/2010)
Asked to do interviews in the SF office. No clue about them. Are they a joke?
Ahem:
http://lmgtfy.com/?q=wells+fargo
If by 'joke' you mean 'one of the best performers during the financial crisis whose CEO is the best paid banking big cheese in America' then yes, they are a joke. Mainly commercial banking though.
I think IBankers trash them. They are not leading any league tables. They really are a commercial bank, but if its that vs nothing def take it. Believe it or not in 06 they paid IB analysts in Charlotte 80k bonus. Not the case anymore though.
Division really matters as well. Not sure what they have in San Fran.
do you really have to ask if they're a joke?? how are you even trying to get a job in ib
Is it your only option... if it is it doesn't matter if they are a joke or not. Always take an interview!
Bad troll is bad //www.wallstreetoasis.com/forums/can-i-ever-achieve-my-dream-or-do-i-need…
As for a serious answer, they are a top 10 equity house and known for huge growth into their IBD unit, though mainly a commercial bank before the purchase of Wachovia. http://www.financial-planning.com/news/wells-wachovia-merger-2666301-1…
They are still regional since they are North American only but for 3Q 2009 and 4Q 2009 they were above UBS and CS in U.S. M&A leagues according to Thomson Reuters. Many consider it a lower BB in the U.S.
I've already signed elsewhere so I obviously won't do the interview, but was curious because I never had heard of them...
You are in banking and have never heard of them? Where did you accept?
don't feed the troll
This is extremely rude and condescending. You don't deserve Wells. GTFO.
Didnt do banking in the US before, that's why... I mean I knew the name of the bank, but I didn't know that they had a strong investment banking presence!
Would have been nice if you mentioned this in the beginning. Reason everyone is bashing you is because you made it sound like you never heard of Wells Fargo (the entire entity) before, which, for obvious reasons, made you sound like an idiot.
Not sure why I'm being labeled a "troll" for asking those questions...
wow, WSO is rough with the newbies!! ahahha
not really. Just look at the title of his post, sounds like a pompous ass to me. I mean, in all seriousness, a firm calls you in for an interview for a highly coveted position and you have the nerve to use that language?
Maybe he really hasn't heard of the firm if he's a wanker. His past posts state he is from London. Well either way, WF is a huge U.S. bank and also as a lower BB due to its expansion and interest in the IBD business and capital markets (specifically equity and debt, though its advisory is growing as well).
If you aren't sure about a firm you shouldn't start with such an immature thread title and an obviously dumb question.
agreed
Bad idea to call someplace you may work at a joke - the flip attitude will come across in the interview anyways, regardless of whether you learn more about the place or not.
Maybe you should let the firm you signed with know you are being recruited by other banks (although a no name bank like WF) and maybe they will increase your offer. Mo' money bitches!!
You can also let them know you are friends with Jeffrey Chiang. He's kind of a big deal on Wall Street.
Regards
the trolling on this site really needs to improve...
How are you going to call a place that you want a job at a joke? What does that make you?
You my friend are a clown. Regardless of whether or not you never worked in the US. I have never personally worked in Europe but do I get on here asking if WestLB / IKB / SocGen are jokes? Punch yourself in the face end of story.
Wells Fargo Won't be an Ibank (Originally Posted: 10/13/2008)
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahAwN2oFtZZA&refer=…
From reading the article it looks like Wells Fargo won't bother to dabble in the investment banking industry. Just means more bloodletting on the street.
As expected, it has never expressed an interest in investment bannking...
So more kids will lose their offers and more bankers will be unemployed...sheesh
If you actually read the article it is just a bunch of analyst hypothesizing what Wells will do based on what there management said a year ago when times where a little different. Wells has yet to say anything about Wachovia's Investment Bank since the acquisition (not really top of mind right now). My bet is that they will keep the IB but fire a lot of people especially in structured products.
wells has a structured product group already----probably going to merge and then work out the kinks (aka layoff overlaps)
WF (Originally Posted: 12/24/2009)
Looking at a potential internship with Wells Fargo's trading arm for the summer. Wanted to get some opinions on what their rep is / what desks are solid. I checked on the boards, and couldn't find very much. Someone mentioned something awhile ago about the fixed income desk being strong, but if anyone could give any more insight, it would be appreciated...
Thanks in advance...
Have you interviewed?
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