Wells Fargo Planning to Ramp Up Investment Banking Division

Wells Fargo (NYSE: WFC) is looking to bulk up and expand its investment banking operations in order to better compete against its peers, Bloomberg reported.

That means underwriting more equity and debt offerings, and advising companies on mergers and acquisitions. While Wells Fargo has all of these capabilities, the bank has never been seen as much of a player in the space.

Wells Fargo, according to Bloomberg, ranks ninth in terms of U.S. investment banking market share and is well behind JPMorgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), and Citigroup (NYSE: C) -- three of the "big four" banks in the U.S.

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Source Fool.com