Wells Fargo Shifts Energy Bankers to Focus on Bankruptcies: Rtrs – Bloomberg Law

Wells Fargo has revived a special group for bad energy loans as it prepares for the downturn in oil prices, Reuters reported, citing people familiar.

• Team includes many bankers who previously worked with oil and gas producers in its investment bank and works alongside bankruptcy specialists who have been reassigned to focus on expected restructurings
• Wells Fargo spokeswoman Michelle Palomino told Reuters that the bank maintains a strong energy and power group within its corporate and investment bank and is committed to helping borrowers

To view the source of this information click here

To contact the reporter on this…