CIB Markets new hires

The team seems to be hiring a slew of senior folks promising to change CIB markets ranging from technology to legal and risk and controls, along with announcing a lot of reorg.

Is this business even capable of adapting to modern markets and technology where the larger players have owned majority of the market share?

It seems like all of these new hires are from better firms that had sizeable markets operations but I wonder if change will ever happen.

All this means less opportunity for promotions and more reorgs/political fights for middle management with the possibility of layoffs/cost cutting.

Any input on CIB markets would be appreciated.

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Charlie is betting the house on growing CIB to become WF’s savior. Where we one day CIB becomes truly competitive with the longer established Investment Banking Institutions. Where, like our youth leagues, everyone gets a medal. For WF though, it’s winning the 3rd, 4th, etc, place so we can be a runner for various issues. Maybe one day we can actual win the trust of someone to actually underwrite and issue the stock, etc.

CIB Markets has the worse leadership I've ever seen in this bank. Either they're screaming at someone for following their directions (after they changed their mind, which they failed to communicate) or they're keeping the masses busy with busywork while they lay off valuable players. Any change from within or without would be welcome.

“All this means less opportunity for promotions and more reorgs/political fights for middle management with the possibility of layoffs/cost cutting.”
^^^this^^^
They claim they are offering us opportunity to advance and then bring in people that stay a few years and then leave. Non loyal people.

How is CIB a bankrupt business? More color ?

CIB is a bankrupt business. Wells have no clue what they are doing. The regulator should close it down asap.

Is it further reflection of Scharf’s napoleon complex, ill-advised fantasies to be a NY moneycenter player? I mean if you’re at best a tertiary player you should be focusing on strategic priorities and instead vacating.

Thread regarding Wells Fargo & Co. layoffs

CIB Markets new hires

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