Free Site Registration

Wells Fargo Ditches Institutional Equities

Traders Magazine, September 2005

Peter Chapman

Wells Fargo Securities, three years into its effort to become a top player in growth stocks, has pulled the plug on its research, sales and trading operations. The unit of Wells Fargo commercial bank, which at its peak employed nearly 80 staffers in equities, blamed declining commissions and margins. "In this changing environment," John Hullar, a Wells Fargo Securities senior managing director, said in a statement, "we're simply not able to earn the return on our investment that we need to grow this business." Hullar was formerly president and CEO of Wells Fargo Securities.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?