US investment-grade corporates are becoming increasingly comfortable with raising debt in euro and sterling markets. One of the leading beneficiaries of the resulting growth in reverse Yankee bond issues is the Europe, Middle East and Africa debt capital markets team at Wells Fargo.
Under the leadership of CEO Charles Scharf, the San Francisco-based bank has been shaking off its sleeping-giant image. One of Scharf’s priorities has been to grow Wells Fargo’s investment banking and advisory business, where revenues increased by 81 per cent between 2019, when he took over, and 2025.