Do you all that keep saying that WF is too big to sell actually understand the situation? WF has failed for several years to clear basic compliance, 101 issues. Do you honestly think the regulators will let that continue on infinitum? Unless real progress is made (and soon), the regulators will begin discussions with BOA, JP chase, BNY, and Citi to see which will be willing to accept the liabilities and show their ability to continue to service WF clients. JP took on all of WaMu, they have a history of taking over troubled banks. WF will be divided and apportioned to the major banks based on geography, prior record of compliance for specific services, and the acquiring institution's ability to meet the financial, regulatory, and customer requirements. The party is almost over folks.
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Any rumored suitors for CTS?
Many large pieces of Wells must be sold. The Feds are not going to allow one monstrously corrupt and mismanaged bank to harm public confidence in the banking system.
It’s over, Wells will be sold as parts to well run banks until Wells is a small problem bank. There is no other alternative.
Many LOB will be sold.
There is no business that can't be sold or merged.
It all depends and what businesses/assets have to be sold off to avoid anti-trust.
Sometimes that is enough to stop a deal. But not always.
Goldman Sachs does not have enough money to buy Wells Fargo.
Regulators would never permit either of these companies to merge or buy anything but a small business unit. There are antitrust regulations, deposit share caps and capital requirements.
The main parts of WF are huge, they will not be sold.
People peddling this notion do not know anything about financial services or this company.
From what I’ve heard, yes.
I mean, is Wells entire business going to be sold off over the next few years. The company reputation is hurting and I wonder if the only thing to do, is sell all of it.
So far the only businesses rumored on the sale block are the Asset Mgmt and Corporate Trust business.
Why else was Chainsaw Charlie hired? It was do dismantle the entire company piece by piece and poise it for a sale to a larger bank -JP Morgan or Goldman.
Charlie said we won't be exiting the five business lines. But he's pruning. He is ending programs that are not effective.
The plan is to sell the least profitable ones, the ones "without the right return characteristics"
Not all, but several? I suspect so.
You mean completely dissolve Wells Fargo by selling off every LOB?
No.
If you meant something else, be more specific.