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Wells Taps Huerta From Guggenheim for Industrials

A Wells Fargo bank branch in New York, US, on Wednesday, Dec. 27, 2023. Wells Fargo & Co. is scheduled to release earnings figures on January 12. (Angus Mordant/Bloomberg)

(Bloomberg) -- Wells Fargo & Co. has hired Jon Huerta from Guggenheim Partners to head industrials investment banking, according to people familiar with the matter. 

Huerta, based in New York, is joining the firm’s corporate and investment bank as a managing director, reporting to Scott Warrender, said the people, who asked to not be identified because the details aren’t public. Warrender is head of investment banking within the banking division. 

Huerta joined Guggenheim’s investment banking division in 2017 and was most recently senior managing director in the aerospace, defense and government services group. Prior to that he worked at Royal Bank of Canada, Bank of America Corp. and Bear Stearns. 

A spokesperson for Wells Fargo confirmed the hire and declined to comment further. A spokesperson from Guggenheim didn’t respond to requests for comment. 

Wells Fargo, which has been bolstering its industrials investment banking practice, recently hired Derek McNulty from Citigroup Inc. to focus on chemicals, and Randy Lynch from Bank of America to focus on aerospace and defense. Last year, it hired Daniel Moll from Credit Suisse. 

 

(Updates with additional hire in final paragraph. An earlier version of this report orrected spelling of Warrender in second reference.)

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