Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo & Company, has named John Hudson and Kristin Lesher as the new co-heads of Investment Banking Coverage, effective immediately. Both will report to Walter Dolhare and Rob Engel, co-heads of Wells Fargo Securities.
Hudson and Lesher are senior bankers within Wells Fargo Securities, with Hudson serving most recently as head of Consumer, Healthcare and Gaming Investment Banking, and Lesher as head of Regional Investment Banking. In their new roles, they will oversee the teams providing advisory and capital-raising solutions for corporate, financial sponsors and commercial clients in coordination with other businesses across Wells Fargo.
The Investment Banking Coverage group today consists of industry and specialty coverage groups such as Consumer, Retail, Healthcare & Gaming; Energy & Power; Financial Institutions; Industrials; Real Estate; Technology, Media & Telecom; Financial Sponsors; and Regional Investment Banking.
Hudson, who will remain in Charlotte, has been with Wells Fargo Securities since 1998 having joined a predecessor firm, Bowles Hollowell Conner & Co. Previously, he worked at Salomon Smith Barney (now Citigroup) and Kidder Peabody & Co in New York. Over his 28-year career in investment banking, Hudson has completed more than 300 advisory, equity financing and debt financing transactions on behalf of a diverse client base.
Lesher, who will be based in New York, has been with Wells Fargo since 2000, joining Wells Fargo Securities in 2010. She has nearly 20 years of investment banking experience originating and executing a broad range of transactions including buy-side, sell-side, and joint venture assignments, as well as equity and debt transactions. Previously Lesher was a senior member of Wells Fargo’s Treasury group and also worked in Wells Fargo Corporate Development, where she was responsible for acquisitions and divestitures. She also worked in Wells Fargo’s Mergers and Acquisitions group.
In addition to assuming their new leadership roles, Hudson and Lesher will continue to oversee their respective coverage areas until their successors are named.
In October, Wells Fargo reportedly fired four foreign-exchange executives, the Wall Street Journal reported. The bank is conducting an internal investigation, while regulators are investigating Wells Fargo's foreign-exchange business. This development adds to the woes faced by the embattled bank, following its unauthorized account scandal, and another issue concerning its auto loan customers.