Wells Fargo CEO Says Investment-Bank Opportunity ‘Staring Us in the Face’

Wells Fargo & Co. Chief Executive Officer Charlie Scharf said his bank is expanding in investment banking in a “very, very targeted way.”

The opportunity to boost underwriting and advisory capabilities is “staring us in the face,” Scharf said Wednesday at an industry conference. Well Fargo already takes risk lending to clients and doesn’t get paid “nearly as much as others do.”