Wells Fargo & Co. is betting its securities business can thrive 600 miles from New York in the same city Bank of America Corp.’s traders largely abandoned.
The first of 900 Wells Fargo employees moved last month into a new space on two floors of a 48-story tower in Charlotte, North Carolina. From their windows they can see the complex a half-mile away where Bank of America built its own state-of-the-art facility less than a decade ago for about 550 traders and investment bankers. Most have since been fired or moved to New York.
