Wells Fargo on the hunt for a rainmaker

New York

WELLS Fargo & Co, in a bid to boost its dealmaking franchise, is hunting for a new head of mergers and acquisitions, according to people familiar with the matter.

The bank's existing head of mergers, John Laughlin, has moved to a vice-chairman role, a spokeswoman said.

Wells is looking for a senior dealmaker who can help the bank win roles on high-profile transactions in which it has not historically been a part, the sources said.

Wells, based in San Francisco, has its East Coast headquarters in Charlotte, North Carolina, which is where Mr Laughlin has been based and where many of its bankers si…