Wells Fargo plans securities biz expansion

The Wall Street Journal is reporting the bank’s plan to expand its securities business following the acquisition of Wachovia last year.

From Dan Fitzpatrick:

The business, to be called Wells Fargo Securities, will face off against established rivals in offering merger advice, stock and bond underwriting, loan syndications and fixed-income trading. One factor behind the move is a rebound on Wall Street, where profits are surging as capital markets stabilize and the credit squeeze makes basic investment-banking businesses more lucrative.

More HERE.