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0.00240467193404317 0.00206114737203706 0 0.000687049124012352 -0.00309172105805565 -0.00206114737203718 -0.00206114737203718 -0.00206114737203718
Stock impact report

Exclusive: Wells Fargo shifts energy bankers to focus on bankruptcies [Reuters]

Wells Fargo & Company (WFC) 
Last wells fargo & company earnings: 4/14 07:46 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
Company Research Source: Reuters
Exclusive: Wells Fargo shifts energy bankers to focus on bankruptcies (Reuters) - Wells Fargo & Co ( WFC.N ) has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters. Sitting inside the credit-resolution group, where Wells Fargo handles struggling borrowers, the team includes many bankers who previously worked with the same oil and gas producers in its investment bank. They work alongside bankruptcy specialists who have been reassigned to focus exclusively on energy to help Wells Fargo wade through the expected flood of restructurings. “It’s a bloodbath,” said one person with knowledge of the bank’s oil and gas portfolio, who was not authorized to speak publicly. Wells Fargo spokeswoman Michelle Palomino said Wells Fargo maintains a strong energy and power group within its corporate and investment bank. The bank is committed to helping borrowers in the energ Show less Read more
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