Wells Fargo to expand securities business - WSJ
July 6 (Reuters) - Wells Fargo & Co (WFC.N: Quote, Profile, Research) will announce an expansion in its securities business, the Wall Street Journal reported on its website.
The bank plans to "grow and invest" in the securities business that it largely inherited from Wachovia, the paper quoted Wells Fargo Chief Executive John Stumpf as saying in a statement to be released on Monday.
The business, to be called Wells Fargo Securities, will offer merger advice, stock and bond underwriting, loan syndications and fixed-income trading, according to the paper.
Wells Fargo could not be immediately reached for comment by Reuters.
Wells Fargo bought Wachovia at the end of 2008 for $12.5 billion. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Muralikumar Anantharaman)
© Thomson Reuters 2009 All rights reserved
UK joins G20 push for world levy on banks
Britain threw its weight behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100 billion deal to meet the cost of climate change. Full Article | Full Coverage
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article
India
US
UK
