Wells Fargo Seeks to Expand Real Estate Brokerage in U.K.
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Wells Fargo & Co., the lender that gets just 3 percent of its revenue from non-U.S. markets, plans to build out its real estate investment-banking business as part of a push into the U.K.
The bank will rely on subsidiary Eastdil Secured LLC, one of the biggest brokers of U.S. commercial property sales, to advise British customers on deals and help them find financing, said Mark Myers, head of San Francisco-based Wells Fargo’s commercial real estate business. The firm already had announced plans to expand lending backed by U.K. commercial properties.