The company’s investment bank is being expanded under Chief Executive Charlie Scharf, and Wells Fargo earned a spot among the top 10 advisors on mergers and acquisitions last year. This is a first for the company.
According to data compiled by Bloomberg, the bank came in eighth place in 2022, more than tripling its market share from the previous year and managing to increase the total deal value despite the industry’s downturn. Due to companies’ decision to wait it out in choppy markets, the volume of deals signed globally decreased by 30%.
According to Jon Weiss, head of Wells Fargo’s corporate and investment bank
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