Thread regarding Wells Fargo & Co. layoffs

The reality is that WIM is a fee generating business that complements the rest of the bank’s businesses well. That being said, WF does not have the wealth management reputation of other firms, such as Merrill Ly--h, Morgan Stanley, JPM Private Bank, Bessemer, Northern Trust, etc.

WF likely cannot sell it to an acquiror as a whole as it is too expensive. I wouldnt be surprised if that LOB is spun off as its own separate public entity, with Wells keeping a 10% share.

WF has leading share in its main banking businesses, which together with CIB will form the go forward bank model in my opinion. It is better to focus on our strengths as a simpler enterprise than being a jack of all trades.

Wells Fargo is being stripped to sell to the highest bidder. There are no plans for the future of WF.

Don’t think they can sell it off and they’ve come to terms with that. They are however absolutely dismantling it to where it is a bare bones operation but still managed by visionless dysfunction because, after all, it is Wells Fargo. WF Advisors stays profitable I believe. The Private Bank has been blown apart to essentially just a hub based servicing model at this point.

Yes
No
Maybe

Take your pick

WIM/WFA also has the clearing house. So, to sell WIM they'd have to also sell WF Clearing unless the parsed out portions of WIM to be sold. I used to work for WFA, specifically the clearing house. Not only do we have all the WF subsidiaries (FiNet, PCG, ISG, and whatever their acronyms are now), we also have.a bunch of firms we clear for. Would be a massive endeavor and would take years to complete that kind of divestiture. While I never say "never", it's highly unlikely.

@mww the bank sucks, WIM / WFA sucks slightly less. At the bank, managers/directors/regionals/xyz were obsessed with control and self-congratulatory BS. I saw it all from WFA, and it wasn't much better there. Bunch of useless driftwood everywhere. I'm a customer now... Working at a much better place. Don't miss a single thing about WF, not even my incompetent co-workers. I have $MM's thanks to WF, so can't complain too much, at least not publicly

"only place that doesnt suck" Any reasons why you think so?

It's the only place that doesnt suck. I hope they ARE sold off.