Dec. 20 - Wells Fargo is already one of the top 10 global investment banks by fees. Breakingviews editors discuss whether the lender that was once wary of Wall Street will continue to expand in 2014.
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So there is a new entrant to the league tables on Wall Street these that the ranks of an NA advisors and corporate financiers. That everybody looks -- it's a year you're writing about. Wells Fargo these that is the biggest bank at least idea assets in this country. They have actually spam -- this is an in investment banking and being right -- that they're making it -- so this is in 2013 what do we see. Well as of the end it will be in December is this data from for Mac guys -- -- it. They've made about two billion dollars on all the different times -- -- in and watching what you can think of a nice double what they made. The year off staple -- -- Kobe being the Sunday April 2008 attack has debt and invest in Charlotte yet except. Not other. The national audience via. -- -- in trouble violent. But yes that they've -- they've done pretty well -- now number nine in the league titles but -- -- -- -- full investment currently focused. That goes that we. We. A lot of it is going to be debt high -- fat they placed bets at the moment Stanley. And number of deals done about it deals Telecom thing. And that's. That's understandable given that heritage has given they've got a lot of amid -- -- companies to go huge that I look. Wachovia was getting that business -- typical that it Wells Fargo was found always say it would not interested in anything east of the Mississippi in retail banking let aligned. Investment -- seeing -- come up and. She began almost as you look at all those -- as juicy -- -- Morgan Stanley and JPMorgan are these guys are feasting on it's very difficult to ignore it rights and they have there so to -- that things have you're if you're Jamie -- -- -- -- united -- sitting here. You're sitting there thinking. Okay whom are worried about I -- Goldman Sachs those guys are always at the table Morgan Stanley. I don't Citigroup -- but. There's Wells Fargo has the relationship so the race has to -- the little relationship yes so another it's they can sort of say wink wink nudge nudge yet we really like to be here. It's not allowed to time on Friday but companies -- profit Tennessee spotting them. You might give us a leg and we'll keep you that's the presidency in its access and and the and to get well saga of the other banks is not lent out all of its deposits it got about 200 billion dollars of fire up now on its balance. That's not unlike other banks but if you open to Wells Fargo and you've not done much swimming in money -- -- guardians and can you gotta say in its evening we can help heal some of the city think they'll buy some animals that go by. Some thanks. Plus he denies it I think both father has done enough to realize that emanate isn't the best thing for getting relations needs I'm already. So what they got social -- wanna sell. But I believe our rival -- somebody -- the high -- some homework but I think the moment that quite happy that there is underwriting -- -- in debt you can kind of get in that we deal with dual led emanate. Is a bit on you can mutual it's at least get on the books are. I hear you but it might might give guests as they do it at some point you think about it but -- they all they ever -- that JPMorgan everyone has fought question that's an advisor for. Okay that's an excellent account right it does take 345 years to get those Yemeni -- it's not a bomber he likes to write less capital underwriting. It issue much -- the play in the headlines so maybe your maybe they make it colorful scene but what a fourteen. Wells Fargo -- it and have a -- they get they -- and it will be back with more breaking views.
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