Wells Fargo, a diversified financial services company, has announced that its investment banking and capital markets businesses formerly operating under the Wachovia Securities and certain Wells Fargo brands will now operate under the brand Wells Fargo Securities.
It has reported that the new Wells Fargo Securities brand will cover the firm’s businesses in debt and equity underwriting, mergers and acquisitions, loan syndications, debt and equity sales and trading, tax-exempt products, research and economics, and certain hedging products such as equity derivatives.
As part of the brand change, Barrington Associates, Wells Fargo’s middle market mergers and acquisitions advisory division, will begin to operate exclusively under the Wells Fargo Securities brand. Eastdil Secured, Wells Fargo’s provider of real estate capital markets services, will continue to operate under its existing name and will offer securities products through Wells Fargo Securities.
Wells Fargo Securities brand includes two business lines – Investment Banking and Capital Markets, co-led by Rob Engel and Jonathan Weiss, and the Securities and Investment Group, led by John Shrewsberry – which serve both middle market and US corporate and institutional clients. Both businesses report to Tim Sloan, head of Wholesale Banking’s Commercial, Real Estate and Specialized Financial Services group.
Wells Fargo & Company’s President and Chief Executive Officer John Stumpf, said: “One of the benefits of the Wachovia merger was the strong investment banking and capital markets platform that we gained.”
