Wells Fargo coy about investment banking ambitions

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To the surprise of exactly no one, Wells Fargo played down talk of expansion in its investment banking business during this week's investor day presentations.

Reuters reports that the world's biggest bank by market cap remains coy about its ambitions, deflecting analyst questions and trying to assuage concerns about mission creep into uncharted waters.

But ever since JP Morgan boss Jamie Dimon said earlier this year that Wells was aggressively building its investment bank - and that it was "almost impossible" to build one from scratch - the bank has been a bit on the defensive about the issue.

Jon Weiss, the head of the investment banking Wells Fargo Securities arm, walked the tightrope, acknowledging that the unit was growing while trying very hard to say it really wasn't.

To access the complete Reuters article hit the link below:

Wells Fargo stays coy as investment bank grows

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