Wells Fargo Securities Expands Equity Research Coverage with Five New Senior Analysts

New Hires Add Expertise in IT Hardware, Healthcare IT, Food, Education and Refining

NEW YORK - May 29, 2012

Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company (NYSE: WFC), today announced the addition of five senior analysts to its Equity Research team. The new analysts include Maynard Um in IT Hardware; Trace Urdan in Education; Jamie Stockton in Healthcare IT and Distribution; John Baumgartner in Food; and Roger Read in Oil and Gas Refining.

"The Wells Fargo Research department is pleased to add the talent and expertise of Maynard, Trace, Jamie, John and Roger to our already well respected team," said Diane Schumaker-Krieg, global head of Research & Economics at Wells Fargo. "Our analysts have a unique approach of collaborating with one another across sectors to offer clients a holistic view of the companies we cover, and we are excited to further enhance our product offering with recognized experts in these key sectors.”

Joining the Wells Fargo Securities’ Equity Research team and reporting to Sam Pearlstein and Todd Wickwire, co-heads of Equity Research, are:

Maynard Um, managing director and senior analyst.
Based in New York, Um joins Wells Fargo Securities as a managing director and senior analyst in the Equity Research department covering the IT Hardware sector. Um joins the bank after spending more than 15 years at UBS Investment Bank and its predecessor firms, where most recently he was the firm’s senior IT Hardware equity analyst. At UBS, Um functioned as the global PC coordinator and was responsible for publishing the firm’s worldwide PC forecast, one of UBS’s key global indicators. During his long tenure at UBS, in addition to IT Hardware, Um followed a number of technology sectors, including Internet, PC Software and Wireless Equipment.

Trace Urdan, managing director and senior analyst.
Based in San Francisco, Urdan joins Wells Fargo Securities as a managing director and senior analyst in the Equity Research department covering the Education sector. Most recently with Wunderlich Securities, Urdan, a two-time Wall Street Journal All-Star, covered the for-profit education industry as a research analyst since 1998 and is considered one of the leading voices in the sector. Before joining Wunderlich Securities, Urdan worked for Signal Hill as a managing director and senior analyst covering the for-profit education industry, and prior to that he headed the education research effort for Robert W. Baird & Co. Urdan is widely-cited as an expert in for-profit education and e-learning.

Jamie Stockton, director and senior analyst.
Based in Memphis, Stockton joins Wells Fargo Securities as a director and senior analyst in the Equity Research department covering the Healthcare IT & Distribution sector. Stockton joins from Morgan Keegan where he followed the Healthcare IT sector for the past four years. During his tenure covering Healthcare IT stocks, Stockton was ranked by Starmine/Financial Times as the #2 stock picker in 2011, the #1 stock picker in 2010 and the #3 earnings estimator in 2010.

John Baumgartner, vice president and senior analyst.
Based in New York, Baumgartner joins Wells Fargo Securities as a vice president and senior analyst in the Equity Research department covering the Food sector. Baumgartner has over eight years of sell-side experience in the space and has differentiated his research product through a particular focus on commodity price forecasting and analysis. Baumgartner joins from Telsey Advisory Group where as a senior analyst he launched coverage of the Packaged Goods and sector and agricultural commodities. Prior to joining Telsey in 2010, Baumgartner worked at Goldman Sachs, where he started as an associate analyst covering Packaged Food in the Equity Research department before transitioning to a position as an agriculture strategist in Global Commodities Research.

Roger Read, managing director and senior analyst.
Based in Houston, Read joins Wells Fargo Securities as a managing director and senior analyst in the Equity Research department covering the Oil & Gas Refining sector. Read joins from Morgan Keegan where he followed the Diversified Energy Services sector. Prior to joining Morgan Keegan, Read spent eight years at Natixis Bleichroeder, most recently as the energy group research head. While at Natixis, Read’s coverage spanned multiple categories within the Energy sector, including independent refiners, diversified energy service providers and drilling contractors. Read began his career on the sell-side with Simmons & Company, where he eventually led the firm’s international equity research and sales effort in Europe.

Wells Fargo Securities’ Equity Research department has received many accolades over the past year. Most recently, it ranked #2 in large cap stock picking in 2011 and 2010 (StarMine/Financial Times). The research team also earned a #5 weighted ranking in Institutional Investor’s annual All-America Fixed-Income Research survey in 2011.

About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital markets products and services to customers, including originating and distributing public debt and equity, hedging interest rates, commodity and equity risks, advising on mergers and acquisitions, and originating structured lending facilities and municipal bonds. The institutional capital markets business is comprised of more than 3500 team members in 40+ offices across the United States, Europe and Asia.

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 NYSE, FINRA, NFA and SIPC, Wells Fargo Institutional Securities, LLC, member FINRA and SIPC, Wells Fargo Bank, National Association, Wells Fargo Securities International Limited (authorized by the U.K. FSA), Wells Fargo Securities Asia Limited (licensed by the HK SFC), and Wells Fargo Securities (Japan) Co., Ltd. (registered with the KLFB).

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 (wellsfargo.com), and other distribution channels across North America and internationally. With more than 270,000 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.

Media
Shelley Beason
704-715-2471
shelley.beason@wellsfargo.com