© Reuters. FILE PHOTO: A Wells Fargo brand is seen in New York Metropolis, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Picture/File Picture
NEW YORK (Reuters) – Wells Fargo (NYSE:) & Co’s Chief Monetary Officer Mike Santomassimo instructed buyers on Tuesday the financial institution is unlikely to launch any of its money reserves this quarter due to the “uncertainty” within the present financial atmosphere.
“I would not anticipate releases at this level given the uncertainty,” Santomassimo mentioned at convention hosted by Morgan Stanley (NYSE:) in New York.
Santomassimo mentioned buyers ought to anticipate second quarter buying and selling to be up over final yr, whereas funding banking charges can be down.