(Bloomberg) -- A trio of Wells Fargo & Co. investment bankers resigned from the San Francisco-based lender to join Truist Financial Corp., according to people with knowledge of the matter.
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The group includes head of media and telecom corporate and investment banking Bruce Levy as well as managing directors John Schwarz and Abhishek Kedia, said the people, all of whom requested anonymity as the move hasn’t been made public. Levy’s direct reports will now be overseen by Steven Macko, Wells Fargo’s head of technology, media and telecom corporate and investment banking, one of the people said.
“We have a deep bench of talent in our TMT group, and we look forward to continuing to work closely with our media and telecom clients,” a Wells Fargo spokeswoman said in an emailed statement. A representative for Truist declined to comment.
Levy worked at Wells Fargo and its predecessor firms Wachovia Securities and First Union Capital Markets since 1988, according to Finra records and his LinkedIn profile. He has covered traditional media companies including television and radio broadcasters, among others. Schwarz joined Wells Fargo in 2007 after working at Lazard Ltd. and Merrill Lynch, among other firms, Finra records show. Kedia, who began his career at Wells and left for a stint at Jefferies Financial Group Inc., rejoined the firm in 2012, Finra records show.
Truist, based in Charlotte, North Carolina, has recently made a slew of senior hires within its investment bank, led by Royal Bank of Canada alum Michael Carter. The firm’s hiring of the Levy-led team follows the exit of William Drewry, former head of internet, media and entertainment investment banking at Truist, who joined Rockefeller Capital Management.
Read more: Truist Hires From Credit Suisse, UBS to Bolster Investment Bank
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