Wells Fargo will officially unveil the new brand name for its investment banking and capital markets unit today and will signal plans to build a business largely inherited from Charlotte-based Wachovia.
In a news release to be issued today, Wells Fargo chief executive John Stumpf says the San Francisco-based bank plans to “grow and invest in the business,” which includes Wall Street-style services such as stock and bond underwriting and merger advice for large corporations.
Wachovia's corporate and investment bank was a source of major losses in the credit crunch that began in 2007, but it's also a provider of high-paying jobs in Charlotte.
Wells Fargo has kept a number of top Wachovia officials in Charlotte, although the new brand name for the business, as reported by the Observer last month, will be Wells Fargo Securities. Rick Rothacker








