Just as the job outlook for M&A appears to be worsening as banks begin letting go of their junior associate-level investment bankers, Wells Fargo Securities says it is expanding its investment banking platform.
The capital markets and investment banking part of Wells Fargo & Company announced today that it has hired two new managing directors to head up industry areas within its growing Mergers and Acquisitions group.
Wells Fargo Securities named Adam Berger head of Healthcare M&A and Bora Sila head of Consumer and Retail M&A. Both are based in New York and report to John Laughlin, head of Mergers and Acquisitions at Wells Fargo Securities.
"Our ability to attract top talent like Adam and Bora is a testament to our continued growth in M&A advisory and Wells Fargo's commitment to building its position as a leader in investment banking," said Laughlin, who added that the bank plans to continue expanding in the M&A area.
Both Berger and Sila have led M&A teams at both large and small investment banks. Berger has been an M&A banker for the past 22 years, working on 140 transactions worth nearly $400 billion. He joined Wells Fargo from Leerink Swann, a healthcare-focused investment banking firm, where he was head of M&A from 2008 to 2011. Prior to that, he was head of Healthcare M&A at Citigroup and, before that, a managing director at Salomon Brothers. He holds a B.S. in finance and economics from The Wharton School as well as a B.A. in history from the University of Pennsylvania.
Sila has more than 20 years of experience in Consumer and Retail M&A. He joined Wells Fargo from UBS, where he was head of Americas Retail Investment Banking from 2009 to 2011. Prior to that, he was at Citigroup and its predecessor companies for 19 years where he held several senior positions, including the lead M&A partner for Consumer and Retail sectors. He began his investment banking career at Goldman Sachs and holds a B.A. from the University of Pennsylvania and an M.B.A. from Columbia University.