Break up Wells Fargo? OK, but what are its advisers worth?

https://www.investmentnews.com/break-up-wells-fargo-211712?NLID=MUST-READ&NL_issueDate=20210923&utm_source=MUST-READ-20210923&utm_medium=email&utm_campaign=investmentnews&utm_visit=26532&msdynttrid=SyjfASdF4uY8WxPnCi1Fl94Np9dQSnmoy6g53QDYqOQ

Best line in article. "Scharf and his team of corporate hackers have undoubtedly wondered what a spun-off group of prime FAs who on average produce $1.08 million in annual revenue could fetch." LOL, so even the street knows about Charlie. Sure WFA hope it come true.

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@trw+1cYhfc82

What is known now as WFA never wanted to become Wachovia Securities. They were happy as AG Edwards until a temp CEO with gambling debt cashed out before the next family heir was ready to take over.

The only useful group within WIM is Advisors. The private bank is useless.

WFA is begging to be sold.

Calls to break up the bank are not just coming from Warren.

Congress is completely fed up with Wells Fargo, and have been for a long time.

https://www.youtube.com/watch?v=q-PMQxJOyB8&t=14083s

I actually think part of Chainsaws mission is to sell off as many divisions as possible while trying to achieve some profitability.

For a while I have just assumed WFA is toast.

@cko It’d be even better if they did it quarterly, and we actually looked at net income instead of revenue, since, you know, WIM spends 80%+ of that revenue to make it.
Net Income

WIM: 21Q1 $419 21Q2 $465
CIB: 21Q1 $1555 21Q2 $1523
CB: 21Q1 $637 21Q2 $784

I wish the bank posted something annually on their website that showed each LOB and their financial information. Then we could maybe see that CIB had 13.8b last year in total revenue compared to WIM at 14.5b

Wrong. WIM does about $15b in net revenue.

WFA is unable to contribute as much to the bottom line because we are not willing to hose our customers like the bank does.

Agree. WIM needs to be sold. Most likely they are looking for buyers.

WIM contributes about $450 million to net revenue per quarter. CIB and CB do more than double this amount and Consumer does quadruple. WIMs efficiency ratio is 82%, the worst at the bank.

Sell WFA and all of WIM to the highest bidder and be done thinking that rich people are ever coming to Wells Fargo in a meaningful way.

WFA wished for this about 6 years ago

Thread regarding Wells Fargo & Co. layoffs

Break up Wells Fargo? OK, but what are its advisers worth?

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