Wells Fargo & Co. 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 Wells Fargo Securities brand.
Under the new brand, the securities group will trade debt and equity, underwrite mergers and acquisitions, syndicate loans and offer certain hedging products, including derivatives.
The group will be divided into two business lines: investment banking and capital markets, which will be co-led by Rob Engel and Jonathan Weiss; and the securities and investment group is led by John Shrewsberry.
Both businesses report to Tim Sloan, head of wholesale bankings commercial, real estate and specialized financial services group.
Barrington Associates, Wells Fargos middle market mergers and acquisitions advisory division, will begin to operate exclusively under the new Wells Fargo Securities brand.
Eastdil Secured, the companys provider of real estate capital markets services, will continue to operate under the same name and fashion.