Wells Fargo CEO projects mid-teens Q2 revenue growth
CEO Charlie Scharf expects mid-teens revenue growth in investment banking and trading. The bank also targets low double-digit gains in wealth management.
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WELLS FARGO & CO expects investment banking and trading revenue to grow by mid-teen percentage points in the second quarter. This follows a first quarter where investment banking revenue rose 12.7% and markets revenue climbed 19%. The expansion signals a pivot toward aggressive growth in the United States after regulators recently lifted the bank's long-standing asset cap.
