Wells Fargo Securities Research and Economics Group Adds Three Senior Hires
August 24 2015 - 11:05AM
Business Wire
Head of Rates Strategy, Biotechnology and
Specialty Retail Analysts to Join Firm
Wells Fargo Securities, the capital markets and investment
banking business of Wells Fargo & Company (NYSE:
WFC), today announced that three senior hires will join the
Research and Economics group. Michael Schumacher will join Research
and Economics as head of Rates Strategy in September; Jim
Birchenough will join the Equity Research team as a senior
biotechnology analyst in early November; and Ike Boruchow will join
the Equity Research team in September as a senior specialty retail
analyst.
“These three marquee hires underscore our ongoing commitment to
fundamental research and the value we place on providing our
clients with leading-edge investment insight across the capital
structure,” said Diane Schumaker-Krieg, global head of Research,
Economics and Strategy at Wells Fargo.
“Mike brings a wealth of fixed income experience to our platform
with over 20 years on the sell and buy-side,” added Lee Brading,
head of Credit Research for Wells Fargo Securities. “By leveraging
the depth and breadth of our research platform, his content will be
distinct and uniquely targeted to the firm’s key institutional
clients in the U.S. and abroad.”
Sam Pearlstein and Todd Wickwire, co-heads of Equity Research
for Wells Fargo Securities add, “Jim and Ike are both highly
regarded in the industry and among investors. We look forward to
having them lead research efforts for these critical industry
sectors.”
Additional background and roles and responsibilities for the new
hires include:
Michael Schumacher, managing director, head of Rates
Strategy
In this newly created role, Schumacher will be responsible for
developing, publishing and marketing trade ideas to institutional
clients. He joins Wells Fargo Securities from UBS Securities where
he served as global head of Rates and Credit Strategy. Prior to
UBS, Schumacher spent 12 years at Citigroup where he served in many
roles including head of Global Rates Strategy and head of U.S.
Fixed Income Strategy. Schumacher is a three-time winner in the
U.S. Agency category of Institutional Investor’s fixed income
research survey. He earned a master’s degree from the Massachusetts
Institute of Technology, Bachelor of Science degree from Cornell
University, and is a Chartered Financial Analyst. Working out of
Wells Fargo Securities’ New York and Charlotte offices, Schumacher
will report to Schumaker-Krieg with a dotted line to Brading.
Jim Birchenough, managing director and senior
biotechnology analyst
Birchenough will join the firm as a managing director and senior
analyst leading the biotechnology research effort. He joins Wells
Fargo Securities after spending four years at BMO Capital Markets
where he was responsible for the firm’s biotechnology equity
research effort. During his time at BMO, his team established a
leading research practice in gene therapy and immuno-oncology, two
of the fastest growing areas within biotechnology. Prior to BMO,
Birchenough spent nine years at Barclays/Lehman Brothers where he
was a senior biotechnology analyst. He earned a Doctor of Medicine
degree from McMaster University and a Bachelor of Science degree in
physiology from McGill University. Based in San Francisco,
Birchenough will jointly report to Pearlstein and Wickwire.
Ike Boruchow, managing director and senior specialty
retail analyst
Boruchow will join the firm as a managing director and senior
analyst covering specialty softlines retail, apparel/textile
brands, footwear and department stores. He joins Wells Fargo
Securities from Sterne Agee where he spent three years covering the
specialty retail sector focusing on softlines, luxury and
accessories. Before joining Sterne Agee, Boruchow spent three years
at J.P. Morgan as vice president and senior associate on the
specialty retail team. Prior to J.P. Morgan, Boruchow began his
sell-side career at Morgan Keenan & Co. He earned a Masters of
Business Administration in finance from the University of
Connecticut and a Bachelor of Science degree in business management
from Florida State University. Based in New York, Boruchow will
jointly report to Pearlstein and Wickwire.
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital
markets and advisory products and services, including debt and
equity origination and distribution, investment research and
economic insights, interest rate, commodity and equity risk
management, structured lending facilities, securitization, prime
brokerage, clearing and fund services.
Wells Fargo Securities is comprised of nearly 4,800 team members
in 40+ offices across North America, Europe and Asia.
Wells Fargo Securities is the trade name for the capital markets
and investment banking services of Wells Fargo & Company and
its subsidiaries, including Wells Fargo Securities, LLC, a CFTC
registered futures commission merchant and a member of NYSE, FINRA,
NFA and SIPC, Wells Fargo Securities International Limited which is
authorized and regulated by the UK Financial Conduct Authority and
Wells Fargo Bank, National Association. Wells Fargo Securities, LLC
and Wells Fargo Securities International Limited are distinct
entities from affiliated banks and thrifts.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide,
diversified, community-based financial services company with $1.7
trillion in assets. Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance, investments,
mortgage, and consumer and commercial finance through 8,700
locations, 12,800 ATMs, the internet (wellsfargo.com) and mobile
banking, and has offices in 36 countries to support customers who
conduct business in the global economy. With approximately 266,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 30 on
Fortune’s 2015 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and
help them succeed financially. Wells Fargo perspectives are
also available at Wells Fargo Blogs and Wells Fargo Stories.
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Wells Fargo & CompanyShelley Beason, 704-715-2471
(Media)shelley.beason@wellsfargo.com@shelleybeasonWF
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