Investment Banking/Sales & Trading
Wells Fargo Securities Analyst Program
Start exploring what it takes to be a Wells Fargo Securities Analyst and develop skills that will take you further in this competitive area of financial services. During the program, you'll be challenged to learn new things, and become part of one of Wall Street's fastest growing investment banks. You'll work hard, but you'll be rewarded with a variety of opportunities
Based on your preference, and the needs of the business, you will focus on one of the following:
Organized by industry sector, the Investment Banking team is dedicated to understanding the unique competitive and operating environments of our clients. The group combines strong relationships and industry knowledge with superior capital markets and advisory capabilities that includes debt and equity underwriting, mergers and acquisitions, and loan syndications. The team maintains active relationships with a broad universe of middle market, large corporate, financial sponsor and institutional clients, and is highly experienced in delivering exceptional execution. You may be placed in Industry Coverage, or Product Group.
Provides a full range of investment banking and advisory services to clients in the following industries:
- Consumer, Healthcare & Gaming
- Energy & Power
- Financial Institutions
- Technology, Media & Telecommunications
- Corporate Finance – Provides product agnostic financing/structuring advice, liability management, ratings advisory, and technical expertise on tax and accounting. Partners with IBCM industry and product specialists to assist clients in optimizing their capital structures and achieving corporate finance objectives.
- Equity Capital Markets – Oversees Wells Fargo's activities in the primary equity and equity-linked markets. Equity Capital Markets works closely with our corporate clients and investment banking professionals to structure and execute financing solutions. Supports the origination of primary market transactions and manage their structuring, syndication, marketing and distribution.
- Financial Sponsors – Provides corporate and investment banking products and services to the private equity industry. The group provides acquisition financing for leveraged buyouts of U.S.-based companies that have a record of stable financial performance. These acquisitions generally are completed under the sponsorship of a private equity investment firm or financial sponsor, which has a controlling interest in the company. The group also may provide mezzanine or subordinated capital, and occasionally make co-equity investments where possible.
- Global Institutional Capital Group – The Global Institutional Capital Group (GICG) develops strong relationships with the largest and most sophisticated institutional investors around the world. GICG’s mandate is to 1) drive market-leading transactions and provide creative financing solutions by bridging the gap between capital demanders and capital suppliers, 2) leverage internal partners to deliver across the firm – “One Wells Fargo” and 3) develop long-term strategic partnerships with clients ultimately becoming a trusted advisor. GICG client segments include Traditional & Alternative Asset Managers, US Pensions, Endowments & Foundations, Family Offices, Long-Time Horizon Investors (International Pensions, Sovereign Wealth Funds and Superannuation Funds) and Multilateral International Agencies & Central Banks.
- High Grade Debt Capital Markets – Originates, structures and executes various debt and hybrid securities transactions for investment grade clients. Provides financing solutions tailored to clients with an investment grade credit profile to support acquisition financing, working capital needs, general refinancing and other corporate purposes.
- Investment Grade Loan Syndications - Originates, structures, and executes lead arranged loan syndications for investment grade clients. Provides financing solutions tailored to corporate clients with an investment grade credit profile to support acquisition financing, working capital needs, and other general corporate purposes.
- Leveraged Finance – Originates, structures, underwrites, and syndicates various debt (including high yield) and quasi-equity securities for corporate and financial sponsor clients. Provides financing solutions tailored to corporate and financial sponsor clients to support acquisition financing, growth financing, recapitalizations and/or refinancing transactions.
- Mergers and Acquisitions / Advisory – Works in partnership with industry and specialty coverage groups to assist domestic and multinational corporate clients, both public and private, in achieving their strategic and financial objectives. Various aspects of the advisory process include acquisitions, corporate defense assignments, divestitures, exchange offers, joint ventures, leveraged buyouts, mergers, restructurings and spin-offs.
- Regional Investment Banking – Provides investment banking coverage to select middle-market clients and emerging growth companies in Wells Fargo's core commercial and retail geographic footprint. The group advises middle market financial sponsors and has dedicated merger and acquisition execution capabilities.
- Real Estate Syndicated Finance – Originates, structures, underwrites, and executes loan syndication transactions for real estate investment trusts (REITs), real estate funds and private developers. Provides financing solutions tailored to support acquisition financing, growth financing, recapitalizations and/or refinancing transactions.
Wells Fargo’s Asset-Backed Finance (ABF) group provides direct structured lending in addition to the underwriting and distribution of asset-backed securities for clients who access the bond markets through securitizations. ABF is comprised of ~350 team members with offices in Charlotte, New York, Alpharetta, Des Moines, Philadelphia, Minneapolis, San Francisco and London. There are 5 Asset Classes under the ABF Umbrella with two cross functional groups supporting the organization:
- Consumer ABS & Finance - Provides warehouse and permanent financing and capital markets solutions to companies that originate consumer receivables.
- Mortgage Finance & RMBS Securitization - Provides capital markets solutions and financing in the form of warehouse and term financing to companies and investors that own, originate or invest in residential real estate, loans or securities.
- Corporate Debt Finance - Provides structured finance and securitization solutions to companies, asset managers and investors that own, originate or invest in corporate loans.
- Subscription Finance - Provides general-purpose term and revolving credit facilities to private equity funds (across substantially all strategies) based on the credit quality of the funds’ underlying investors.
- Commercial Operating Asset Finance - Finances assets typically found in the property, plant and equipment section of large corporations.
Eastdil Secured is the foremost provider of financial advisory services to real estate owners. Eastdil Secured combines superior capital markets expertise with a deep understanding of real estate fundamentals to execute a wide range of real estate transactions for our clients ultimately producing superior results. Eastdil Secured's Real Estate Investment Banking Practice is dedicated to understanding the unique competitive and operating environments of our public and private real estate clients. The group combines strong relationships and industry knowledge with superior capital markets and strategic advisory capabilities that includes debt and equity underwriting through its affiliate Wells Fargo Securities, mergers and acquisitions, private equity placements and loan syndications. Our team maintains active relationships with a broad universe of real estate clients, and has a strong track record of success in the public and private markets. As of May 2017, the platform is ranked #1 in commercial real estate lending, preferred equity, M&A and high-grade debt as well as #2 in REIT public equity and loan syndication.
The sales and trading team delivers a comprehensive set of capital market products and solutions to the broader Wells Fargo customer base, ranging from distribution of public debt and equity products to hedging interest rates, commodity and equity risks. You may be placed in one of the following businesses:
Fixed Income Sales and Trading:
Distributes and trades securities to support issuing clients who are raising debt in the capital markets, investing clients who are sourcing bonds for investment needs, and clients with needs to hedge interest rate, commodity price, and equity price risks in their businesses through the use of derivatives.
- Interest Rate Risk Management – Helps companies analyze and manage financial risk resulting from changes in interest rates.
- Asset Based Finance Sales & Trading – Provides sales and trading of securitized fixed income products, such as agency and non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), and collateralized loan obligations (CLOs). The team is an active primary underwriter of both third-party clients and Wells Fargo Bank-originated collateral across asset classes.
- Credit (High Grade and High Yield) Sales and Trading – Addresses client investment needs and objectives through the distribution and placement of underwritten deals, as well as by providing and facilitating secondary market liquidity and resources.
- Fixed Income Market and Portfolio Strategy – Provides general fixed-income strategy and commentary, as well as customer-specific portfolio analysis, balance sheet analysis, and individual solutions to a spectrum of fixed-income investors. Our customers include total return-oriented money managers and mutual funds, insurance companies, pension funds, money market funds, corporations and other short-duration accounts, municipalities and state funds, credit unions, and banks ranging in size and sophistication from community banks to money center banks
Municipal Sales, Trading & Credit Strategy:
This business is dedicated to providing value to both issuer and investor clients. The desk is focused on the origination, trading, and successful distribution of tax-exempt and taxable municipals bonds. Underwriters work closely with issuing clients and investment bankers to help provide financing solutions for municipalities. The trading desk consists of High Grade, High Yield, Electronic, Taxable, & Middle Market trading teams, and these group focus on providing liquidity, trade ideas, and market color to investor clients. Dedicated salespeople focus on the successful distribution of municipal products and delivering valuable trade ideas to top-tier institutional clients nationwide including Mutual Funds, Asset Managers, Insurance Companies, Banks, Hedge Funds and other accounts. Our team of credit strategists ensure the desk and our clients are informed of credit information, news, and other market developments. These teams work closely to ensure Wells Fargo provides the best solutions to our municipal customers.
- Municipal Sales & Trading - Active market-maker and liquidity provider for tax-exempt and taxable municipals. Market Leader in Electronic Trading. Institutional Sales Team covers top tier clients including Mutual Funds, Asset Managers, Insurance Companies, and Hedge Funds and Arbs.
- Underwriting - Unique to the Municipal Market, Competitive Bond transactions provide issuers with direct access to capital markets.
- Municipal Derivatives Marketing - Provides interest rate solutions to municipalities, not for profits and other issuers of tax exempt and taxable municipal debt. MDM primarily focuses on delivering interest rate risk management solutions for a customer’s debt portfolio. The products offered are primarily Swaps and Swap Novations.
Equity Sales and Trading & Investment Solutions:
Provides distribution for corporate clients who are raising capital through equity and convertible security new issuance in the capital markets (primary market). Furthermore, the group facilitates secondary (securities already issued) trading in a wide variety of equity based products. In addition, derivative based structures are designed and distributed globally to meet client needs across a spectrum of underlying securities including equities, rates, commodities, credit, currencies, and inflation based products. These vehicles include structured notes, structured CDs, special purpose vehicles, OTC contracts and separate accounts.
Serves asset management clients by providing a wide variety of products and services designed to aid in the generation of absolute returns. These services include a centralized securities clearing facility, valued added risk management and exposure tools and reporting, capital introduction services, securities lending , and a wide variety of technology and operational support.
Offers a variety of customized derivative and physical solutions to help our borrowing and institutional clients manage their exposure to commodity price risk. Focus sectors are Energy, Metals, and Agriculture. Products traded include: Crude Oil, Diesel Fuel, Unleaded Gasoline, Natural Gas, Ethane, Propane, Metals, and Agriculture.
As one of the foreign exchange market leaders in North America, Wells Fargo Foreign Exchange provides services ranging from currency exchange and international payments to hedging and currency risk management solutions. Our team of experienced Foreign Exchange Specialists delivers guidance, support, and information to help your customers develop the best strategies for their international needs.
Wells Fargo Investment Portfolio Group is a credit-focused investment team based in San Francisco. It deploys retained earnings of the bank to achieve attractive risk-adjusted returns across a variety of asset classes, including leveraged loans, investment-grade and high-yield securities, structured products, and municipal bonds. Portfolio coverage is organized by both asset class and industry sector.
The Summer Analyst Program is an opportunity to work in a buy-side setting alongside research analysts and senior staff covering multiple sectors of the economy. Investment Portfolio is an organization focused on thorough due diligence and the application of a disciplined investment strategy prioritizing relative value and sound fundamental credit analysis. Summer Analysts will assist with monitoring activities/opportunities in the capital markets, and work through Investment Portfolio’s underwriting processes, which include financial statement analysis, financial modeling, risk analysis and assessment, credit agreement and indenture analysis, portfolio monitoring, and company/industry due diligence.
A fully developed Investment Banking platform responsible for originating and structuring transactions (bond deals) for municipal and not for profit issuers. We provide capital raising solutions for governments, education & nonprofit and nonprofit healthcare institutions.
Clients are covered by geographic and industry specific investment banking teams:
- Northeast, Midwest, Southeast, Southwest, West
- Energy & Corporate, Education & Not for Profit, Healthcare, Transportation, Structured Finance, and Housing
The Research/Economics Group provides research and analysis on international, national, and regional economic trends to help serve our clients’ business and financial needs. Our experienced economists have been featured in many national publications, academic and economic journals, and on popular television and radio programs. As one of the most-respected economic research organizations in the industry, Bloomberg News has named it a top economics team for the past five years
Analysts start with a comprehensive six to eight week training program in Charlotte before beginning work with their business unit. The training combines all the analysts from various lines of business and includes classroom instruction in financial accounting, cash flow, credit analysis, financial modeling, and valuation. The Analyst Program is non-rotational and provides the opportunity to gain experience working for one of the most well regarded financial institutions in the world.
Analysts, depending on the Division and Group they are assigned to, assume significant responsibility that may include
- Developing and maintaining models to depict projected financial results and to value companies
- Working closely with senior bankers on presentations, financial and credit analyses, and the preparation of financial projections and models
- Supporting various financial analyses, including valuations and merger consequences
- Performing comprehensive and in-depth company and industry research
- Preparing presentations and other client materials
- Conducting research, participating in strategic planning, and assisting in the execution of advisory services
- Conducting financial analysis, preparing credit packages, and monitoring existing deals; creating pitches, proposals, and marketing materials
- Participating in client meetings, due diligence visits, and other client interactions to gain exposure to key executives and senior bankers
- Understanding clients' investment strategy and risk appetite to build a long-term relationship with Wells Fargo Securities
- Pricing and structuring customized investment strategies using conventional cash and derivative products for institutional investors
- Identifying broader market trends to support the sales and trading desk
Opportunities are available in Charlotte, NC, New York, NY and San Francisco, CA.
Limited opportunities are available in Houston, TX, Los Angeles, CA, Washington, D.C.
- 1+ year of financial services industry experience; or a BS/BA degree or higher granted prior to the program start date
- Ability to work effectively, as well as independently, in a team environment
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Ability to work in a fast paced deadline driven environment
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
- Strong interest in financial markets with knowledge attained through coursework, individual study and prior work experience
- Dedication to building a career in the financial services industry
- Proven ability to take on significant responsibility
- Energetic self-starter who is flexible, organized, conscientious and proactive
- An individual who demonstrates a sense of personal accountability and urgency for achieving results
- A graduation date of December 2017 – May 2018