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Wells Fargo will merge corporate and investment banks

April 6, 2018

Wells Fargo & Co. WFC, -1.18% is planning to further integrate its corporate and investment banks in an effort to reduce costs and better serve its clients, people familiar with the matter said.

The bank’s plans, which could lead to layoffs in the future, will affect some industry coverage groups, advisory teams, equity and debt capital markets origination and certain corporate-banking relationship managers, some of the people said.

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