Wells Fargo hires 5,000 For brokerage, private banking, retirement services

Subject: PRESS RELEASE: WELLS FARGO HIRES 5000 FOR BROKERAGE, PRIVATE BANKING & RETIREMENT SERVICES

Wells Fargo hires 5,000 For brokerage, private banking, retirement services Wells Fargo Chairman and CEO John Stumpf.   Mark Calvey Wells Fargo confirmed Monday that it plans to hire 5,200 to 5,500 people a year to staff its national growth in brokerage, private banking and retirement business. Wells says much of the hiring will be to fill vacancies created through attrition in these areas of the bank. Bret Marshall, head of talent acquisition for Wells Fargo, (NYSE: WFC) recently shared the hiring figures in an interview with eFinancialCareers.com. He said the hiring includes about 750 people who will be brokerage trainees. The hiring plans underscore how Wells Fargo, operating about 90 different financial services businesses under Leadership of Chairman and CEO John Stumpf, can cut jobs in one area while hiring in other parts of the bank.Last week,Wells said it is cutting more than 2,300 jobs in its residential mortgage business, including 30 in Walnut Creek. That business has slowed considerably as higher mortgage rates have put a chill on refinancing. Marshall said hiring in brokerage, private banking and retirement services will include both industry veterans with established networks, as well as the relatively inexperienced. Wells and its rivals are eager to expand their brokerage and wealth advisory operations as new regulations limit revenue elsewhere, such as fees on bounced checks. Marshall told eFinancialCareers that the hiring will occur in several California cities, Las Vegas, Chicago, Atlanta and the Northeast. The bank's map for building these businesses targeting the affluent isn't rocket science. "It's pretty easy. You just follow the money," Marshall said. He also offered some good advice for those seeking work at Wells Fargo or elsewhere: highlight your accomplishments. "Across the board, I see people spend a lot of time listing what they do, not what they have done," he said. Mark Calvey covers banking and finance for the San Francisco Business Times Visit stage2omega at: http://www.stage2omega.com/?xg_source=msg_mes_network