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Wells Fargo Securities Adds Senior Restaurant Equity Analyst

New hire adds to Well Fargo Securities’ growing consumer research franchise

NEW YORK - January 18, 2012

Wells Fargo Securities, part of Wells Fargo & Company (NYSE: WFC), today announced the addition of Jeff Farmer, managing director and senior restaurant analyst, to its growing Equity Research team. Based in Boston, Farmer will jointly report to Sam Pearlstein and Todd Wickwire, co-heads of Equity Research.

“Jeff has established a leading research franchise based on in-depth analysis and a differentiated thematic approach,” said Diane Schumaker-Krieg, managing director and global head of research & economics at Wells Fargo. “Both our corporate and institutional clients respect the quality of his work and view Jeff as a franchise player in the restaurant space. We are thrilled to have him on board and look forward to leveraging his expertise.”

Farmer joins Wells Fargo Securities after spending four years at Jefferies & Company, where he most recently followed food and beverage stocks. Prior to this coverage, Farmer was the lead restaurant analyst at Jefferies, where he achieved a #7 ranking in the Institutional Investor All America Research poll in 2010 after being recognized as a “Best Up and Comer” in 2008 and 2007. Prior to Jefferies, Farmer spent six years with CIBC World Markets covering mid- and small-cap restaurant stocks. Farmer is a chartered financial analyst and holds a BS from Villanova University and an MBA from University of Pennsylvania’s Wharton School.

Wells Fargo Securities’ Research and Economics department currently has 86 senior research analysts and economists providing macro insight and coverage of nearly 2,000 securities across fixed income and equities. Most recently, the firm earned a #5 weighted ranking in Institutional Investor’s annual All-America Fixed-Income Research survey and ranked #5 among 196 firms in the Wall Street Journal’s 2011 stock- picking survey.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (, and other distribution channels across North America and internationally. With more than 272,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 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 Securities is the trade name for certain capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, member FINRA and SIPC, and Wells Fargo Bank, National Association.

Shelley Beason