Can Wells Fargo make it in securities?

Some people were surprised by Wells Fargo's move to develop a more robust securities business. It basically aims to build on Wachovia Securities and make it a big brand. There are plenty of skeptics who note the difficulty that big banks have faced trying to build out on both sides of the commercial banking-investment banking divide. Indeed, there are many who think that this is a prescription for failure.

While JPMorgan and Bank of America seem to be making it work, few think of Wells Fargo as another JPMorgan. But Wells Fargo may not actually be trying to compete with the likes of Goldman Sachs and Morgan Stanley. They may want to target smaller firms and smaller deals with a focus on retail access. We'll just have to see. 

For more:
- here's an article from The Motley Fool

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