Even prior to Moody's latest opinions on Wells Fargo, many on Wall Street can't help notice the bank's ascent in activities once dominated by standalone investment banks such as Goldman Sachs (GS) and Morgan Stanley (MS) and industry conglomerates like JPMorgan, Citigroup (C) and Bank of America Merrill Lynch (BAC).
As other investment banks have scaled back operations and struggled to increase revenue since the financial crisis, Wells Fargo has consistently been able to grow its investment banking unit, which is part of a larger wholesale banking operation that also includes businesses ranging from corporate banking to insurance.
In 2012, Wells Fargo cracked the top 10 on Wall Street in underwriting high-yield bonds, according to data provider Dealogic. It's also the 10th leading player in providing financing to financial institutions. In those parts of Wall Street, Wells Fargo competed with big, but beleaguered, titans like Morgan Stanley and UBS (UBS).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV