Europe is a growth market for U.S. banks. Every time Goldman Sachs talks about its quarterly results, it says Europe’s an area of focus and that the slow withdrawal of European banks from the investment banking arena is creating opportunities for U.S. banks which stay the course.
Goldman hasn’t committed to European hiring, but one US investment bank certainly has: Wells Fargo Securities.
We’ve highlighted Wells Fargo’s European hiring plans in the past. In February, a Wells Fargo Securities insider told us the bank was hiring across the board. In January, Wells Fargo hired Joe Saffire as head of investment banking for EMEA with a mandate to grow its business across the region.
Since then, it seems Wells Fargo Securities International has increased London headcount substantially. The UK’s Financial Conduct Authority (FCA) Register shows that the Bank has added 19 registered people in London this year – an increase of nearly 30%.
Wells Fargo didn’t respond to a request for comment on its hiring plans. However, the FCA Register indicates that in recent months it’s been poaching experienced staff from rival firms. In the past few months, it’s added Robert Fernandez as a managing director in DCM syndicate from BNP Paribas, Hilary Halper from Deutsche Bank as a VP in M&A, and Charles Spungin from Pineridge Investments as a senior client services professional.