Wells Fargo dives into CMBS

08/24/2010 | Bloomberg Businessweek

Wells Fargo has added bankers and support staff during the past few months to bolster loan originations and then bundle them into commercial mortgage-backed securities, said Ed Blakey, who is heading the initiative with John Shrewsberry. The CMBS market helped bring down Wachovia, which Wells Fargo acquired in 2008. "We believe there is going to be a resurgence of CMBS, and we are investing in anticipation of it," Blakey said. "Our pipeline is growing, and we intend to be a leader of this market."

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