Wells Fargo Hires JPMorgan Energy Investment Banker Fornell

Wells Fargo & Co. (WFC), the largest U.S. bank by market value, hired Eric Fornell from JPMorgan Chase & Co. (JPM) to advise energy and power clients in the investment bank.

Fornell, 56, joins as a vice chairman and will focus on power and pipeline companies, San Francisco-based Wells Fargo said today in a statement. He was most recently a vice chairman at JPMorgan, where he worked since 1999.

Prior to JPMorgan, Fornell worked at Goldman Sachs Group Inc. and at CMS Enterprises Co., Wells Fargo said.

Fornell “brings more than 30 years of well-rounded experience in banking, M&A and equities,” Rob Engel, a co-head of investment banking at Wells Fargo, said in the statement. Fornell is based in New York and will report to Engel and the other co-head, Jonathan Weiss.

To contact the reporter on this story: Zachary R. Mider in New York at zmider1@bloomberg.net;

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net.

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