Wells Fargo becomes New York Fed primary dealer 20 April 2016New York Reporter: Drew Nicol
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Wells Fargo Securities is set to become a primary dealer for the Federal Reserve Bank of New York.
As a primary dealer, Wells Fargo Securities will trade directly with the Federal Reserve Bank of New York and provide market intelligence and analysis to its trading desks.
Wells Fargo Securities is the capital markets and investment banking business of Wells Fargo & Company, offering a variety of capital markets products and services, including prime services, structured lending facilities, commodity and equity risk hedging and mergers and acquisitions advice.
“Primary dealership will allow us to better serve our existing customer franchise and is a logical extension of our client-focused business model,” said Walter Dolhare, head of the Wells Fargo Securities markets division.
“We look forward to serving as a counterparty to the Federal Reserve Bank of New York in our role as a primary dealer.”
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