Jefferies recruited two advisers from Wells Fargo, marking the latest in a series of departures from the wirehouse.

Wells Fargo's brokerage force has declined by more than 500 advisers over the past three quarters. Last year, a fake account scandal rocked the bank, drawing the ire of regulators as well as congressional lawmakers. That scandal cost Wells Fargo its CEO and another high ranking executive as well as more than $185 million in fines.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access