Wells Fargo Builds Out Restructuring Group with Deutsche Bank Hire

Dow Jones11-05 23:57

Wells Fargo has hired a corporate finance banker from Deutsche Bank to augment restructuring and leveraged-finance offerings within the bank.

Philip Saliba, who was the head of restructuring capital markets at Deutsche Bank since 2017, joined Wells Fargo's leveraged finance group this week and will serve as a managing director focused on restructuring.

Saliba spent more than 30 years at Deutsche Bank, and most recently led the firm's restructuring capital market origination effort within the leveraged debt capital markets group. A Wells Fargo representative confirmed Saliba's hiring and declined to comment further.

Wells Fargo has been ramping up efforts to expand its investment-banking offerings. The bank's CEO has laid out the lofty goal of being a top-five investment bank after it was freed from a set of regulatory restrictions last year.

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