urbanSTL

who's fatter bagby or Central Scrutinizer?

One positive from all these aquisitions lately. Who knows, this firm could really take off in a few years.

Benjamin F. Edwards & Co., the brokerage firm founded last year by Benjamin F. “Tad” Edwards IV, has lured eight more employees away from Edwards’ old firm, which is now known as Wells Fargo Advisors. They’re creating a Peoria, Ill., branch, the third for the new Edwards firm.



Like the new firm’s branch-office personnel in White Plains, N.Y., and Springfield, Mo., and its 25 headquarters staffers in Clayton, Mo., the Peoria employees formerly worked for A.G. Edwards & Sons

http://www.stltoday.com/blogzone/mound- ... brokerage/

^

Now if we could just get him to move downtown...

I'm not sure if this is such a good thing overall unless Wells Fargo is bringing in talent or they would rather see these individuals go so that it can make room to bring people in. Wells Fargo Advisors has a huge presence and would be nice to see them succeed as well as keep their feet solidly planted in our regions soil because an implosion happens a lot quicker then building from the ground up.



My wishfull thinking is that Wells Fargo Advisors entertains the idea of being an anchor tenant for McKee's proposed tower on the west end of the mall if Northside Development phase I and II gets off the ground. A TIGER grant to rebuild the 22nd street interchange next year would be a nice plus and a way to reduce the TIF burden.

I dont think a company of 50 employees are going to be able to take a substantial market share from Wells. Last time I checked Wells was the 2nd largest brokerage in the country. Edwards is not a real competitor at this time.



This is good news. I wish Tad well. I hear he is a stand up guy just like his father.



It would be great if they could grow considerably and become the 5th large brokerage we have in the area. It would be even better if all 5 were located downtown!!!

Looks like Wells Fargo Invisors is in the market for an aquisition.

From last week's BJ - John Stumpf, CEO, said "We're open to buying another brokerage...We are suboptimized...If we can jump a curve with the right deal, that's great."


This begs the question. Who are the possible targets?
There is a lot of space on Jefferson, would they move employees here? Is there the possibility of consolodating at another location? Thoughts?

Yes, rebuild 22nd street interchange, gave them the available property that abuts the west end of the mall (heck, the sunken grade is ready made for an underground garage), pass the data center and cargo hub tax credit bills, and show how cheap their electric bill will be if they consolidate IT and data center ops on Jefferson Ave while their executives and advisors can show off their new view with a short walk over to Peabody Opera house and Scottrade. In other words, this is the part of McKee's northside development plan that is right on the money to speak.

If their is any organization, firms, in St Louis region that should have and can pull off a signature downtown office building with a signature view of an Iconic Monument it should be Wells Fargo Security. They should be on high on the state list as Ford was for KC.

moorlander wrote:Looks like Wells Fargo Invisors is in the market for an aquisition.

From last week's BJ - John Stumpf, CEO, said "We're open to buying another brokerage...We are suboptimized...If we can jump a curve with the right deal, that's great."


This begs the question. Who are the possible targets?
There is a lot of space on Jefferson, would they move employees here? Is there the possibility of consolodating at another location? Thoughts?

Well the target is UBS's US wealth management division. Rumor has it, if the purchase goes through they would move that division from NYC to StL. Stay tuned.

http://www.cnbc.com/id/43076459/UBS_Bro ... Fargo_Deal

UBS denies it now but I hear different

http://www.bloomberg.com/news/2011-05-1 ... true-.html

It was announced today Wells Fargo will be moving it's Securities Loan operations from Wall Street to St Louis. The chief officer for STL operations also mentioned there may be more moves in the future. Big positive for STL

Awesome!!!!

downtown2007 wrote:It was announced today Wells Fargo will be moving it's Securities Loan operations from Wall Street to St Louis. The chief officer for STL operations also mentioned there may be more moves in the future. Big positive for STL

Thanks for passing on the great news. I think is a concrete sign by Wells Fargo Securities that they are firmly here to stay or at least how I'm taking it.

Not sure how many jobs WF has in downtown Clayton, but those jobs will soon be moving to the buildings along Jefferson.

downtown2007 wrote:It was announced today Wells Fargo will be moving it's Securities Loan operations from Wall Street to St Louis. The chief officer for STL operations also mentioned there may be more moves in the future. Big positive for STL

Where was this announced?

It was announced internally today. Not sure how many jobs it is. Maybe 50 or less. All Clayton employees should be downtown

downtown2007 wrote:It was announced today Wells Fargo will be moving it's Securities Loan operations from Wall Street to St Louis. The chief officer for STL operations also mentioned there may be more moves in the future. Big positive for STL

Downtown2007, assumed this was announced internally. Haven't seen anything across the usual sources yet.

Curious, how many people do they have in their Securitites Loan Operations? Would it be most of the crowd that would have to move?

Finally, can't help to add a long shot wishful speculation to the rumor that BofA is thinking about selling Merryl Lynch. Wouldn't be nice to have them pull up stakes and take over the BofA downtown, maybe add the second tower.

I know it was released internally. I read it. I will find out how many people are in the Securites Lending area in NY. It may not be enough to make headlines.

the count wrote:Some more concrete info. We stand to gain 200 jobs. Not insignificant.
Wells Fargo to expand local brokerage arm

Have to agree, think this is big plus after the roller coaster ride of two back to back acquisitions.

Nice article, it noted that Wells Fargo Securities has quietly added jobs since taking over Wachovia and wanting to add more is great. I'm even happier that it is all happening without all the political grandstanding that seems to happen these days.

200 jobs is 200 jobs. 200 well paying jobs.... Great news!

Wow! This is great news. Both about the 200 jobs and NextStl getting the scoop