Different titles... same sh-t.
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SVP is a lower title than MD
@OP In the new title system they are same level.
SVP is traditionally commercial banking title, they are mostly in consumer banking and lending LOB now. MD is IB, now consistent through corporate functions.
In many groups yes. There was an effort to standardize officer titles 2 years ago. New titles were rolled out and many had their officer titles modified but others were grandfathered in with their existing titles. So, in many groups you have SVPs and MDs with the same job titles working side by side. Classic Wells Fargo.
At Wells Fargo Advisors, a Managing Director is someone doing in excess of $1mm in production. A SVP is under that.
No, SVP is the real thing, can make Millions
MD is a meaningless corporate title