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  • Prospect in IB - Cov

Bad rep has definitely diminished, esp after last year where they managed to hit top 10 M&A advisors. Most of the people shitting on Wells are prospects relying on opinions from 5 years ago, so take everything with a grain of salt.

A lot has changed given the new senior hires and development of their IB business. I'd say if you're interested in coverage, the best groups historically are Industrials, FIG , Energy, and REGAL. TMT has also picked up significantly, with very strong hires from CS and MS, and multiple deals in the billions last year. Industrials and energy have also made big hires in the last couple months from CS , Barclays , and Evercore .

Overall, it seems like a solid place to be as an analyst if you were to land one of these groups. Exits wise, you're better off being in the New York office so definitely shoot for that.

  • Associate 2 in IB - Cov

It has a bad rep amongst prospects who don't know what they are talking about.

From what I know, it's definitely a decent place to be, and if you want to be a career banker, even better due to the WLB. As for coverage groups, FIG and REGAL are definitely top tier with TMT making some key hires and thus great upside potential. Product group wise, Levfin is very strong. Deal flow is strong from what I noticed and PE exists are varied depending on group. REGAL has great placements into REPE . FIG can pigeonhole you and that's all I know, can't really make any commends on exits. Industrials seem to have great exits (Linkedin search).

Overall bank has improved. New management actually cares about Investment Banking and sees the upside in it. Old management didn't care at all. The upside has always been there ( Bloomberg has a great article about Jamie DImon talking about the IB opportunity at WF )

  • Intern in CorpFin

Is it the same in the Toronto office?

  • Analyst 1 in IB - Cov

Exception is the Energy Group will do in-house modeling since it's all energy models with a lot of nuance.

  • Intern in IB - Gen

REGAL does their own M&A completely. M&A group at wells isn't too strong comparatively

  • Intern in Non-profit

Still have balance sheet restrictions, right? Would expect them to grow stronger when those are lifted as well. Wells doesn't seem like a bad place to be. Decent WLB from what I've heard.

  • Prospect in IB - Cov

M&A actually doesn't do all modeling - it's very group dependent and varies based on your capacity. I know at least for TMT and industrials, the group still runs the model in a lot of cases. With that said, there are cases where the groups will hand off aspects to the model to M&A. Don't let this dissuade you at all from doing coverage if that's what you're interested in.

forward_lateral , what's your opinion? Comment below:

How can you hand off "aspects" of the model? Maybe coverage can give a synergies number but there's absolutely only one team running the model. Also how many folks in a coverage bullpen can use the model? Not saying that model is the best and greatest but if you're running a deal with teams across the bank it's the best one to use as people are most familiar with the outputs and how it functions. Especially if there's a fairness opinion

  • Prospect in IB - Cov

I meant *aspects including the model. My fault.

I used to be in the group, and there were plenty of times where we would put together the data room but not actually run the model.

mo.golala , what's your opinion? Comment below:

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  • Intern in IB - Cov

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