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Wells Fargo’s Emea investment bank head returns to US

The head of Wells Fargo Securities for Europe, the Middle East and Africa has left her London-based job after three years to take up a corporate banking role within the US group based in North Carolina.

Lisa McGeough started heading up the industrials sector practice in Wells Fargo’s corporate banking group in April 2016, according to a spokeswoman for the bank. She was deregistered from the UK’s Financial Services Register on April 21 and is now based in the bank’s offices in Charlotte, North Carolina.

The spokeswoman said a successor to McGeough in London “will be named shortly”. She added that the bank is “strongly committed” to its Emea investment banking business, which she said McGeough “has done an excellent job of expanding”.

McGeough, who appeared on Financial News’s list of the 100 most influential women in European finance in 2015, joined Wells Fargo in 2008 when the US bank bought Wachovia, where she had been working. She moved to London and took responsibility for the bank’s Emea investment banking business in 2013.

Wells Fargo ranked 44th for Emea investment banking revenues in 2015, up one place from 2014. Half of its $65 million in Emea investment banking revenues came from debt capital markets work, with 32%, or $21 million, coming from syndicated loans and most of the remainder from equity capital markets.

McGeough told FN in 2015 that the bank’s strategy in Europe was to work with US clients who wanted to do business internationally. That strategy has seen Wells Fargo run euro-denominated bond issuances for companies including Warren Buffett’s Berkshire Hathaway, Heinz and Microsoft.

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