Thread regarding Wells Fargo & Co. layoffs

You guys all think M&A will happen under a consent order. Pls bank is already sold

@2maq+1l76mZfA Zero chance. You’re either trolling or really out of touch with reality.

@1kcp+1l76mZfA
CSBB wont go far if they consistently shuffle around lower management (now influencers who tf thought that was a professional title for manager) and hand off a lot of responsibility to bank managers who already have to deal with shortages and no sales experience, and unreal expectations of getting waves of clients to hand over their money to WFA from JPM/MS/Raymond James/ML/TD whilst the recession is in full effect. Mary needs to advocate for better CD and savings rates. That gets the foot in the door.

M&A does not tie up the Balance Sheet and is very profitable . Makes sense WFC is strategizing to grow in this direction

It doesn’t matter what their deposits are , only reserves. Besides they are under a co sent order , which means I’m simple terms consent or you no longer do business. Open your eyes the bank is being sold , they already locked in the rate and last year and are doing g due dillegence… pls

@1gkl+1l76mZfA

While parts of the bank can be sold off, in order buy the retail bank, a non-banking business would have to do so. There are deposit limits for banks. Wells Fargo deposits are just too high for any other bank to buy them.

@1gkl+1l76mZfA Tell us more about that.

The bank is being sold , open your eyes

Yes yes, the voices you're hearing must be the insidious ~coastal elites~

@1lhu+1l76mZfA

As soon as the id--ts in NYC STFU about it, I'll move on. They are the ones that intertwine it with every single aspect of the business, not me.

Laughing at all the people in this thread who have no idea about any actual business functions in this bank besides CSBB.

Please learn more about the company you work for.

Corporate and Investment Banking (CIB) is the business in question here, they generally have solid revenue, and pretty much always have the best efficiency ratio of any of the business divisions. In Q4 they had the highest net income of any of the divisions, while they make up about 3% of the employees in the company (hence the efficiency ratio). There is huge room for growth, some of which is not asset cap dependent, but admittedly will take time and investment, and no, WF CIB will still never be like JPM’s.

@1ccv+1l76mZfA Same for WIM. When the scandals hit we were repeatedly assured that there would not be an impact to us as our business lines were far removed from the issues on the banking side. Fast forward 6 years and now the red tape involved with doing the simplest day to day tasks has doubled or tripled in complexity and time consumption.

CIB is doing well and doesn’t have any of the endless regulatory stuff that the regular bank does.

I work in CIB and compliance / risk has a death grip on us. It’s actually pretty funny since CIB’s record on sketchy stuff is at least 100x better than the ordinary bank.

If the retail bank could get it together, CIB would be printing money. We were top 10 in advisory (high margin fees) last year.

Complaining about how often they have to hear about DEI while also being the only one who shoehorns it into every unrelated topic

Post ID: @1pjv+1l76mZfA
Post ID: @1dwh+1l76mZfA

We’re way too far behind the institutions who have dominated this space for years. And Wells Fargo’s reputation is in the toilet. Who’s name do I want on any major deal I’m putting together? Certainly not Wells Fargo.

It’s like my local repeat-offender thief/conman wanting to use other people’s money to build his new Wireless Telecommunications Carrier. He is too far behind the companies with the major market share: Verizon Wireless, AT&T Inc. and Sprint. And who’s going to trust this guy to build a trustworthy competitive carrier when he has failed in every other space.

It makes sense that we’d direct our resources elsewhere with all the stuff we’ve been closing down. I would love to get into this somehow.

I wonder how many more DEI develop you courses I'll have to take and what my diverse hiring quota will be thanks to Charles hiring yet another white guy. Not that I have a problem hiring whoever is best for the job, but these A hole execs in NYC, who's directs are all white, keep telling me that I am not doing enough on diverse hiring even though my team is WAY more diverse then theirs. It's "do as a say, not as I do" BS.

Some people do t understand what this guy is hard to do. Why shouldn't Wells try to beef up CIB? Are they just supposed to rollover and die? This is a great sign that we're trying to play offense.

Maybe a merger with MS? It was rumored that WF would merge with GS a few years ago. But, I can see MS with WF can work.

Unless the asset cap is getting lifted and we are talking TARP 2 as things collapse in 23.

Post ID: @coc+1l76mZfA

This is Charlie trying to beef up WFC’s Investment Banking business:

“The role of bankers in M&A deals (M&A banking) is to advise other companies and execute transactions where the owners sell their business to buyers, acquire smaller companies (targets), and divest or acquire specific divisions or assets from other companies. In broad bankers execute sell-side and buy-side M&A deals.”

Like the OP said, why are we expanding here before he get the bank’s compliance and oversight right.

It sends a clear message that Charlie does not think he can get the bank’s current problems fixed, so he’s turning his attentions elsewhere. At least, that’s how I read it.

who would WF be merging with?? Aren’t they already selling off servicing assets?