Wells Fargo Hires Credit Suisse Investment Banker Jill Ford as Head of Equity Capital Markets

 

Introduction:

Wells Fargo has made a strategic move by hiring Credit Suisse investment banker Jill Ford as the head of its equity capital markets (ECM) business. The appointment comes amidst an exodus of Credit Suisse bankers in the US following the bank's takeover by UBS Group AG. Let's delve into the details and explore the implications of this significant hire.

1. A Key Addition to Wells Fargo:

   Jill Ford, previously the co-head of Equity Capital Markets Americas at Credit Suisse, will assume the role of head of ECM at Wells Fargo. Her extensive experience and senior roles in the Americas syndicate make her a valuable addition to the team. Ford is expected to join the bank's New York office in a few months, following a standard period of leave.

2. Benefit from Credit Suisse Exodus:

   Wells Fargo is among the banks reaping the benefits of the recent exodus of Credit Suisse bankers in the US. The Zurich-based company's takeover by UBS Group AG has led to a significant movement of talented professionals in the industry. By attracting Jill Ford, Wells Fargo strengthens its ECM business and aims to capitalize on this talent shift.

3. Co-Heads to Lead Until Ford's Arrival:

   During the transition period, Wells Fargo's current co-heads of ECM, Lear Beyer and Craig McCracken, will lead the business. Once Ford joins the team, Beyer and McCracken will step aside from their co-head positions but continue to contribute in senior leadership roles within the group. This ensures a seamless integration of Ford's expertise and a smooth handover of responsibilities.

4. Confirmation and Response:

   A spokesperson for Wells Fargo has confirmed Jill Ford's hiring but declined to provide further comments. Credit Suisse, on the other hand, has chosen not to comment on the matter. The move reflects Wells Fargo's commitment to strengthening its ECM capabilities and signals its intent to compete at the highest level in the industry.

Conclusion:

The addition of Jill Ford as the head of equity capital markets at Wells Fargo marks a significant development for the bank. By leveraging Ford's expertise and benefiting from the ongoing talent shift in the industry, Wells Fargo aims to solidify its position in the ECM space. This strategic hire demonstrates the bank's determination to excel and remain competitive in the evolving financial landscape.