Wells Fargo has announced that banking veteran Jonathan G. Weiss has been named the new head of Wells Fargo Securities, effective May 15, 2014.
Weiss, who is based in New York, will replace John Shrewsberry, who was recently named the company’s next Chief Financial Officer. Weiss will report to Tim Sloan, who was recently named to be the new leader of Wholesale Banking at Wells Fargo.
'We’re extremely fortunate to have such a strong management team with deep bench strength already in place at Wells Fargo Securities', said Sloan. 'Jon has 34 years of experience across several financial services sectors, including investment banking, advisory, leveraged finance, loan syndications and international. In his new role, he will continue to lead our securities business on a path of disciplined, profitable growth in support of Wells Fargo’s valued corporate, middle market and institutional clients'.
Weiss, along with Charlotte, NC-based Robert Engel, had most recently served as co-head of Investment Banking & Capital Markets atWells Fargo Securities. Engel, who has more than 25 years of investment banking experience providing advice and execution for clients across numerous industries and has been an equal partner in Investment Banking & Capital Market’s success, will continue to lead that business.
'I’m excited to take on this new role and collaborate with a great team', said Weiss. 'The Wells Fargo Securities approach, which combines a long-term relationship focus, expert insight and advice, teamwork, and best in class execution, is a winning formula for our clients, team members and shareholders'.
Weiss joined Wells Fargo, then Wachovia, in 2005 and assumed his current responsibilities in 2008. Before joining Wells Fargo, he spent 25 years at J.P. Morgan and its predecessors. From 2000 until 2005, Weiss headed J.P. Morgan’s global financial sponsor business. Prior to that, he was based in Hong Kong, where he was chief executive of Chase Manhattan Asia, Ltd. for three years, and the head of Investment Banking for Asia Pacific. Weiss led the Retail Industries group at Chemical Bank in New York from 1992 to 1996. Before that, he was a senior partner in the Loan Syndications and Acquisition Finance groups. Weiss also served as assistant representative in the Mexico City office of Chemical Bank for four years. He began his career at Chemical Bank in 1980.