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2021 Wells Fargo CIB Sales & Trading Summer Analyst Program
At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
When you start your career with Wells Fargo Corporate & Investment Banking, you’re joining a team that is committed to your development now and over time. We are also deeply committed to the communities we serve, and to creating an environment where each team member’s unique skills, experience, and backgrounds are embraced. We pride ourselves on being ranked the 13th Best Company for Diversity and the Top Company for LGBT employees by DiversityInc., and on our perfect score of 100 on the Corporate Equality Index by the Human Rights Campaign
Summer Analyst Program
The Summer Analyst Program provides the opportunity to gain exposure and experience working for one of the most well regarded financial institutions in the world; learn about our business and the many careers and professional development opportunities; expand personal and professional networks; incorporate knowledge gained in school while learning new skills and interviewing for future career opportunities at Wells Fargo. The duration of the Summer Analyst program is 10 weeks and opportunities are available in Charlotte and New York with limited opportunities available in Houston and San Francisco.
Sales & Trading Program Overview
The sales and trading team delivers a comprehensive set of capital market products and solutions to the broader Wells Fargo customer base, ranging from distribution of public debt and equity products to hedging interest rates, commodity and equity risks. You may be placed in one of the following businesses:
- Rates & FX Sales: The Rates & FX team helps companies analyze and manage financial risk related to interest rate and currency exposure. The team provides services including interest rate swaps, caps, collars and other interest rate hedging products; currency forwards, options and other currency risk management tools as well as international payment solutions. Additionally, the team collaborates with colleagues across a variety of disciplines such as trading, credit and compliance. Together, the team delivers quantitative and qualitative guidance, support, and timely information to help clients develop the best strategies for their risk management needs.
- Cross Asset Solutions: The Cross Asset Solutions & Strategy team delivers innovative and bespoke solutions for WF Treasury and the firm’s most sophisticated clients across our Commercial, Corporate and Institutional client segments. Our team consists of two segments Quantitative and Structured Solutions. Quantitative Solutions provides value added content for the Macro sales force, by helping to distill accounting and analytics concepts for our clients so that they are better able to identify and hedge balance sheet risks. Structured Solutions provides expertise in a wide range of products including Structured Rates, Accounts Receivables and Structured Notes Origination.
- Commodities: Offers a variety of customized derivative and physical solutions to help our borrowing and institutional clients manage their exposure to commodity price risk. Focus sectors are Energy, Metals, and Agriculture. Products traded include: Crude Oil, Diesel Fuel, Unleaded Gasoline, Natural Gas, Ethane, Propane, Metals, and Agriculture.
- Trading: In collaboration with Sales, Liquidity provider to the Bank’s clients in the Cash and Derivatives markets. Products include Interest Rate Swaps, Interest Rate Options, U.S. Treasuries, Agencies, and Supra Sovereign Bonds. Execution and risk management of transactions are done through voice and electronic modes. The market structure is evolving at rapid pace, and this puts a premium on technology and quality data.
- Credit Sales & Trading: Addresses client investment needs and objectives through the distribution and placement of underwritten deals, as well as by providing and facilitating secondary market liquidity and other resources. The Credit Business is comprised of 3 sub businesses:
o High Grade Sales and Trading
o Loan and Distressed Sales and Trading
o High Yield Sales and Trading
- Asset Backed Sales and Trading: Conducts market making activity to meet the needs of clients, including Wells Fargo Home Lending. Clients include money managers, REITS, hedge funds, banks, insurance companies, etc. The desks also play a large part in the support of and distribution of new issue origination. The ABF business is comprised of 3 sub businesses:
o RMBS Sales and Trading
o CMBS Sales and Trading
o ABS Sales and Trading
- Municipal Sales, Trading, Underwriting & Credit Strategy: This business is dedicated to providing value to both issuer and investor clients. The desk is focused on the origination, trading, and successful distribution of tax-exempt and taxable municipals bonds. Underwriters work closely with issuing clients and investment bankers to help provide financing solutions for municipalities. The trading desk consists of High Grade, High Yield, Electronic, Taxable, & Middle Market trading teams, and these group focus on providing liquidity, trade ideas, and market color to investor clients. Dedicated salespeople focus on the successful distribution of municipal products and delivering valuable trade ideas to top-tier institutional clients nationwide including Mutual Funds, Asset Managers, Insurance Companies, Banks, Hedge Funds and other accounts. Our team of credit strategists ensure the desk and our clients are informed of credit information, news, and other market developments. These teams work closely to ensure Wells Fargo provides the best solutions to our municipal customers.
Municipal Sales & Trading - Active market-maker and liquidity provider for tax-exempt and taxable municipals. Market Leader in Electronic Trading. Institutional Sales Team covers top tier clients including Mutual Funds, Asset Managers, Insurance Companies, and Hedge Funds and Arbs.
Underwriting - Unique to the Municipal Market, Competitive Bond transactions provide issuers with direct access to capital markets.
Municipal Derivatives Marketing - Provides interest rate solutions to municipalities, not for profits and other issuers of tax exempt and taxable municipal debt. MDM primarily focuses on delivering interest rate risk management solutions for a customer’s debt portfolio. The products offered are primarily Swaps and Swap Novations.
- Cash Equities: Delivers innovative trading and risk management solutions across a broad client base. Liquidity, customer service, and actionable ideas are central to our offering. Through our network of high-touch and electronic services we create a platform for idea generation and execution with the main focus on the US equity markets. The platform also provides its US markets execution expertise to the largest institutional investors outside the US, specifically in EMEA and Canada. The business has garnered US market share across all major equity verticals: Investment Banking, Research, Trading and Corporate Access. Our trading team makes markets in 3,500 securities and we are one of the largest liquidity providers among our peers.
- Equity Derivatives: Helps customers effectively maximize financial opportunities, enhance liquidity and manage risk with the help of our broad product and service offerings and operational efficiency. It provides extensive industry expertise and product solutions to support a range of investment strategies, providing liquidity in a variety of derivative products to suit the needs of our clients, mainly index and single stock derivatives, convertibles, synthetic securities, and structured products.
- Prime Brokerage: Serves asset management clients by providing a wide variety of products and services designed to aid in the generation of absolute returns. These services include a centralized securities clearing facility, valued added risk management and exposure tools and reporting, capital introduction services, securities lending, and a wide variety of technology and operational support.
Financial Resource Management
Global Exchange Trade Services (Futures Commission Merchant (FCM)): Global Exchange Traded Services (FCM) delivers high-quality execution and clearing of futures and options, and the clearing of OTC derivatives to corporate and institutional customers globally. We provide “high-touch” voice brokerage for futures and options, direct market access for self-execution of futures and options, customized clearing services, a single point of contact across cleared OTC and listed futures products. Our mission is to help Wells Fargo customers meet their risk management needs by providing them with effective and convenient access to the derivative markets through full-service execution and clearing of exchange-traded and over-the-counter (OTC) derivatives.
Fixed Income Research Overview
The Fixed Income Research group provides published research and analysis on fixed income bonds and securities across government, agency, municipal, corporate and structured product issuers. The research is independent and client centric with an emphasis on fundamental analysis, technical trends and relative value. The team of top ranked analysts are nationally and internationally regarded as best in class with deep industry knowledge and market insight.
Equity Research Overview
The Equity Research group conducts independent research and analysis on nearly 1,000 public equity securities, maintaining financial projections, investment recommendations, and price targets. The group serves its institutional investor client base by providing differentiated, anticipatory perspectives at the sector, industry, and issuer levels. Wells Fargo’s Equity Research department has been recognized for its expertise, depth, and accuracy of projection by various independent polling organizations.
The Summer Analyst Program is designed to provide undergraduate students an in-depth understanding of the day-to-day responsibilities of a full-time team member. Summer analysts receive a comprehensive professional and educational experience through on-the-job training by joining a business group and working alongside team members who are experts in their fields. In addition, the program offers organized activities that allow summer analysts to receive analytical training, meet senior executives, and network with other participants across business lines.
Summer Analysts assume significant responsibility that may include:
- Understanding each clients' investment strategy and risk appetite to build a long-term relationship with Wells Fargo Corporate & Investment Banking
- Assisting the trading desk in managing risk
- Supporting senior sales representatives in building relationships with our clients
- Pricing and structuring customized investment strategies using conventional cash and derivative products for institutional investors
- Assisting with executing and booking trades
- Using risk management tools to monitor trading positions and risk
- Identifying broader market trends to support the sales and trading desk
- Preparing research and strategy presentations
- Assist in providing analysis for accounts upon request
Team members support our focus on building strong customer relationships via a strong risk mitigating and compliance-driven culture, both critical to the success of our customers and company. Collectively, we are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Full-time Analyst Opportunities
Based on outstanding performance, summer analysts may receive an offer to join a business within Corporate & Investment Banking upon receiving their college degree. Prior to starting in an office, analysts participate in a comprehensive training program in Charlotte. The training brings together all the analysts from various lines of business and includes classroom instruction in financial accounting, cash flow, credit analysis, financial modeling, valuation, and market fundamentals.
For more information on Corporate & Investment Banking and our Analyst programs, please visit https://www.wellsfargojobs.com/university-programs.
Wells Fargo will only consider candidates who are presently authorized to work for any employer in the United States and who will not require work visa sponsorship from Wells Fargo now or in the future in order to retain their authorization to work in the United States.
Wells Fargo Corporate & Investment Banking is the trade name for the corporate banking, capital markets and investment banking services of Wells Fargo & Co. and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, member of NYSE, FINRA, NFA and SIPC, Wells Fargo Prime Services, LLC, member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC, are distinct entities from affiliated banks and thrifts.
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Other Desired Qualifications
Summer Analysts must demonstrate a combination of academic aptitude, analytical skills, personal motivation, distinguished written and verbal communication and presentation skills, excellence in working effectively as an individual and as part of a team, and an ability to manage multiple projects and deadlines simultaneously. It is preferred that your background includes:
Demonstrated interest in finance
Ability to quickly evaluate and solve analytical problems in a high-pressure situation
Ability to apply basic probability and statistical principles to solve problems
Proven ability to take on significant responsibility and make sound judgments in a fast paced environment
Willingness to work long hours in a demanding, highly focused, collaborative, and team environment
Energetic self-starter who is flexible, organized, conscientious, proactive, and detail-oriented
An individual who demonstrates a sense of personal accountability and urgency for achieving results
Dedication to building a career in the financial services industry
Bachelor’s degree with an expected graduation in December 2021 or May/June 2022