Aug
21

Wells Fargo Said to Scale Back London Asset-Backed Debt Team

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Wells Fargo & Co. is downsizing its European asset-backed securities business and merging it with its credit team, according to three people familiar with the matter.

The bank cut Kevin Corcoran, head of structured-credit sales in London, as well as salespeople Julie Rocheron and Ibrahim Dessouki, said the people, who asked not to be identified because the departures aren’t public. Krishna Shah, who traded asset-backed debt, may also leave the bank, the people said.

“Overall staffing for Wells Fargo Securities in London is up in 2015 and we remain committed to growing the business in Europe,” said Wells Fargo spokeswoman Elise Wilkinson, who declined to comment on individual employees. “We are constantly evaluating our business model to better serve our investing, issuing and advisory clients in the region.”…

Wells Fargo Said to Scale Back London Asset-Backed Debt Team

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