“In the commercial bank, we're focused on adding relationship managers and business development officers in underpenetrated and growth markets to drive new client acquisition, future revenue growth, and we expect to hire even more in 2025.”

In context

“We introduced Wells Fargo Premier to better serve our affluent clients, and we're starting to see some early benefits from the enhancements we've made. We increased the number of premier bankers by 8% and branch-based financial advisers by 5% from a year ago, with a focus on increasing the number of bankers and advisers in top locations. We have enhanced our customer relationship management capabilities for our bankers and advisers. This is increased collaboration, driving $23 billion in net asset lows into Wealth and Investment Management Premier channel last year. Deposit and investment balances for Premier clients grew steadily throughout the year and increased approximately 10% from a year ago. This remains a significant area of opportunity for us. Turning to our commercial business. In the commercial bank, we're focused on adding relationship managers and business development officers in underpenetrated and growth markets to drive new client acquisition, future revenue growth, and we expect to hire even more in 2025. We created a strategic partnership with Centerbridge Partners and introduced overland advisers to better service our commercial bank customers with the direct lending product. We have targeted our investment banking capabilities towards our commercial banking clients. We're still early in these efforts, but we're starting to see results including our investment banking market share with our commercial banking clients increasing by approximately 150 basis points in 2024, which includes helping some clients access capital markets for the first time. Additionally, we've been working closely with our clients to support their M&A activity, driving higher M&A-related revenue. The opportunity remains significant. We continue to make investments in talent and technology to strengthen corporate in”