Wells Fargo said preparing low key assault in investment banking

ezgif.com-resize (6)As Wall Street remakes itself on a former rail yard in the far west of Midtown Manhattan, one surprising name is leading the way.

Wells Fargo & Co (WFC.N), the San Francisco-based lender known for its retail banking business, has picked out space for a trading operation to use as a base for a stealth attack on the investment banking world.

The bid for more capital markets business – from advising on deals and security issues to trading derivatives – is a potentially risky move by the third-largest U.S. bank by assets.

Source: Reuters

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