Skip to content
Marketing Needs Experts

Marketing Needs Experts

James I. Hoomana

Primary Menu Marketing Needs Experts

Marketing Needs Experts

  • Finance & Oportunity News
  • Business startup
  • Business Way
  • Loan Balance
  • Insurance
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Wells Fargo CEO sees $1 billion opportunity in growing investment bank
  • Finance & Oportunity News

Wells Fargo CEO sees $1 billion opportunity in growing investment bank

James I. Hoomana 06/06/2022 3:24 AM

Table of Contents

Toggle
  • Register now for FREE unlimited access to Reuters.com
  • Register now for FREE unlimited access to Reuters.com

NEW YORK, June 1 (Reuters) – Wells Fargo & Co’s (WFC.N) Chief Executive Officer Charlie Scharf said Wednesday he wants to grow Wells’ corporate and investment banking business on Wednesday by $1 billion opportunity.

The bank has historically focused on its retail and business customers, and put less emphasis on its trading and corporate dealmaking operations, Scharf said.

“We always told people we’re Main Street. We’re not Wall Street. It’s about kitchen tables, not league tables,” said Scharf, speaking at a conference sponsored by investment research firm AB Bernstein.

Register now for FREE unlimited access to Reuters.com

In fact, Scharf said, roughly half of the bank’s revenues come from its corporate & investment banking division and the services it provides to middle-market companies.

Scharf aims to grow Wells’ public underwriting business and sell more investment banking products and advisory services to current clients, whom the bank already knows and has vetted and who have gone to rival banks for those services.

“We’ve looked at our own customer base, and… how much those customers pay the Street,” Scharf said, referring to traditional Wall Street banks like JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N) and others. “It’s huge — like $4 billion to $5 billion or something. And you look at what we get paid, and it’s teeny.”

“These are folks that we’re already taking the financing risk on. We know them intimately. It’s a $1 billion opportunity just with our own customers.”

Wells Fargo has operated under a $1.95-trillion asset cap since 2018, when the U.S. Federal Reserve ordered the bank to improve its governance and risk controls following sales practice scandals. read more

As the fourth-largest U.S. lender, and those constrains have limited Wells Fargo’s ability to grow.

Speaking at the conference, Scharf also said the bank is reevaluating and likely scaling back its mortgage business.

“We won’t be as large as we were historically,” Scharf said.

Register now for FREE unlimited access to Reuters.com

Reporting by Elizabeth Dilts Marshall in New York and Niket Nishant in Bangaluru;
Editing by Nick Zieminski

Our Standards: The Thomson Reuters Trust Principles.

Post Navigation

Previous A Simple Way To Offset Higher Gas Prices
Next The Best Homeowners Insurance for Short-Term Rentals

More Stories

Best Budgeting Apps to Transform Your Finances
  • Finance & Oportunity News

Best Budgeting Apps to Transform Your Finances

James I. Hoomana 10/05/2025 3:09 AM
The Ultimate Household Budget Planner You Need
  • Finance & Oportunity News

The Ultimate Household Budget Planner You Need

James I. Hoomana 08/05/2025 3:07 AM
HS Code and Tariff: How They Work Together
  • Finance & Oportunity News

HS Code and Tariff: How They Work Together

James I. Hoomana 01/05/2025 12:02 PM
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    

Archives

Recent Posts

  • Navigating China US Tariffs on Imports
  • Best Budgeting Apps to Transform Your Finances
  • The Ultimate Household Budget Planner You Need
  • 5 Must-Have Design Tools for Small Business Marketing
  • HS Code and Tariff: How They Work Together

BL

Tags

American Express Business Cards Att Business Customer Service Att Business Internet Att Business Login Bad Business Codes Bank Of America Small Business Buffalo Business First Business Administration Jobs Business Administration Salary Business Analyst Jobs Business Card Dimensions Business Casual Female Business Casual For Women Business Casual Women Outfits Business Ideas 2021 Business Letter Example Business License California Business Name Search Business Process Reengineering Business Proposal Template Buy A Business Card For Business Chase For Business Chase Ink Business Card Columbia Business School Costco Business Center San Jose Emirates Business Class Facebook Business Account Fictitious Business Name Florida Business Entity Search Ga Sos Business Search Georgia Business Search Google Business Email Houston Business Journal Illinois Business Search Instagram Business Account Is Lularoe Still In Business London Business School Master Of Business Administration Men'S Business Casual Pittsburgh Business Times Qualified Business Income Deduction Sacramento Business Journal Secured Business Credit Card Standard Business Card Size

Partner Links

boyacachicofutbolclub
commercialcentercampanario

links

The Business Zenly Folks
Ride the Structo Wave

BR

tofuagent
lentilagent

bp

backlinkplacement.com

You may have missed

Navigating China US Tariffs on Imports
  • Business Way

Navigating China US Tariffs on Imports

James I. Hoomana 15/05/2025 12:33 PM
Best Budgeting Apps to Transform Your Finances
  • Finance & Oportunity News

Best Budgeting Apps to Transform Your Finances

James I. Hoomana 10/05/2025 3:09 AM
The Ultimate Household Budget Planner You Need
  • Finance & Oportunity News

The Ultimate Household Budget Planner You Need

James I. Hoomana 08/05/2025 3:07 AM
5 Must-Have Design Tools for Small Business Marketing
  • Sports

5 Must-Have Design Tools for Small Business Marketing

James I. Hoomana 06/05/2025 7:05 AM
HS Code and Tariff: How They Work Together
  • Finance & Oportunity News

HS Code and Tariff: How They Work Together

James I. Hoomana 01/05/2025 12:02 PM
phidiastavern.com | CoverNews by AF themes.

WhatsApp us