Wells Fargo broke into the top 10 for global investment banking fees in 2013 and has stayed there since, according to Thomson Reuters data.

It is looking to juice its growth further by hiring a new rainmaker to head its M&A franchise, leading a team of bankers that has grown by 40 percent over the past five years, outstripping rivals even as M&A surged across the board.

Wells Fargo is also expanding in prime brokerage, a lucrative business offering loans, trading, cash management and other services to hedge funds. It bought mid-sized prime broker Merlin Securities in 2012, expanded it to target larger hedge funds, and still has room to grow, according to Weiss.

The bank is also expanding in derivatives that allow investors to bet against companies' debt, recently getting regulatory approvals to trade single-name and indexed credit default swaps, as well as swaps based on indexes.

Such derivatives were blamed for spreading mortgage-related losses during the financial crisis, but they are enjoying a revival as corporate bonds dip on tumbling energy prices and companies look for a way to manage interest rate, commodity price and currency risk.

"That has been a big addition and a thoughtful way to take the derivatives question into the board room or into the 'C-Suite' as something more than just a trade that you do on a desk," said Weiss.

 

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