Wednesday, April 23, 2014

Wells Fargo's investment banking, capital markets head now based in Charlotte

A management reshuffle within Wells Fargo has resulted in a Charlotte executive becoming the sole head of the bank's investment banking and capital markets operation.

Robert Engel had been co-head of investment banking and capital markets, a duty he shared with New York-based Jonathan Weiss. On Wednesday, the bank named Weiss to head Wells Fargo Securities, replacing John Shrewsberry, who earlier this month was named the bank's new chief financial officer.

Engel joined Wells Fargo in 2005 as head of mergers and acquisitions. He is among other senior Wells Fargo Securities executives in Charlotte who will now report to Weiss.

Wells Fargo Securities is focused on offering products and services to medium and large corporate clients. Some of those services include mergers and acquisitions advice, debt underwriting and sales and trading activities with institutional clients, such as pension funds.

Weiss will report to outgoing CFO Tim Sloan, who next month becomes the bank's new head of wholesale banking.

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