Research and Economics

Industry expertise and in-depth company analysis

Our economists, strategists, and analysts collaborate across the capital structure to bring you a holistic view of the opportunities and risks in each of our investment recommendations. Whether it's detailed company analyses, research conferences and forums, or one-on-one investor meetings, our team is committed to serving your needs with unparalleled research capabilities.

Our more than 250 research professionals cover more than 2,000 securities across every major sector of the economy. When it comes to research, our collaborative approach sets us apart from the competition.

Our analysts, industry conferences, and published reports are continuously recognized and regularly featured in the media.

Our executives

Lee D. Brading, CFA

Head of Credit Research, Senior Analyst

Lee is a managing director and head of Credit Research. He is also the senior high yield analyst for the Homebuilding, Building Product, and Service sectors. He has been selected to Institutional Investor's Fixed Income All-Star team each year since 2006 for his coverage of homebuilding and building product companies. 

George Bory

Head of Fixed Income Research

George is the head of Fixed Income Research. Over the last decade, he has been ranked by Institutional Investor in both the United States and Europe. 

Nicole Black

Head of High Grade Corporate Research, Senior Analyst

Nicole is head of High Grade Corporate Research. She is also the senior fixed income analyst covering the investment grade Telecommunications, Media, and Technology sectors. 

Mike Schumacher

Head of Macro Strategy 

Mike is a managing director and head of Macro Strategy for Wells Fargo Securities. His team is responsible for identifying and articulating opportunities in rate markets.

Chris Ferrara

Co-Head of Equity Advisory

Chris is co-head of Equity Advisory at Wells Fargo Securities where he collaborates with the Research and Equities management teams to optimize focus on research content origination, marketing, and branding.

Lisa F. Hausner

Director of Global Research Publishing

Lisa is a managing director and joined the Wells Fargo Securities Equity Research group as Director of Equity Publishing in 2000. In 2005, Lisa expanded her role as Director of Global Research Publishing, which includes oversight of the content, quality, and distribution of the integrated research product for the equity, corporate credit, economics, municipals, and strategy groups.

Paul Jeanne, CFA, CPA

Associate Director of Research

Paul is a managing director and Associate Director of Research. He helps manage the Equity Research team, leads the Research associate training and development effort, and contributes to the strategic direction of the department.


  • 10 economists providing domestic and international economic commentary to assist with business and investment decisions
  • Top 10 in forecasting in each of the past eight years (Bloomberg, 2009 – 2016)
  • Award-winning economic commentary (American Economic Association, 2010, 2012, 2013, 2015, 2017) 

Equity Research

  • Timely and insightful research on more than 1,150 companies across eight industry sectors
  • 70 senior analysts providing industry overviews, company-specific recommendations, thematic pieces, and instant commentary on industry and company news
  • #1 ranked broker in the 2017 Thomson Reuters StarMine Analyst Awards. The annual awards rank analysts from 161 firms based on the returns of their recommendations relative to industry benchmarks and the accuracy of their earnings forecasts.

Foreign Exchange Research

  • Daily and monthly foreign exchange analysis to help understand and manage the risks and opportunities of operating and investing abroad
  • Consistently ranked among the industry's most accurate currency forecasters (Bloomberg)
  • #1 most accurate forecaster of major currencies and Latin American currencies, and the 3rd most accurate forecaster of Asian currencies in the 2016 Thomson Reuters Survey. The firms surveyed included approximately 80 firms for the major currencies.

High Grade/High Yield Research

  • 28 senior analysts providing coverage of more than 1,200 securities
  • Analyst commentary ranges from daily news headlines and flash analyses of corporate announcements to comprehensive industry and company strategic reviews
  • Ranked #1 in High Grade Research and #3 in High Yield Research in the 2017 Institutional Investor Fixed Income Research Survey

Market Strategy Research

  • Strategy teams that cover the credit, equity, and rate markets
  • Credit team that focuses on relative value across the credit spectrum, strategy periodicals, in-depth thematic analysis, flash market comments, and index analysis
  • Equity team that provides a top-down perspective on the equity markets and research on topical market themes, macro and sector-specific earnings trends, inter-market dynamics, and a range of technical indicators
  • Rates team that is responsible for analyzing global markets as well as developing and marketing trade ideas to investors and corporate customers

Municipal Research

  • In-depth analysis of municipal markets and specialized commentary on the healthcare, higher education, public power, infrastructure, and transportation sectors
  • Special reports focusing on topical subjects such as bankruptcy, fiscal problems, public pensions, and how federal and state decisions might affect local finance
  • Ranked #1 in the 2016 Smith's Research & Gradings All-Star Municipal Survey

Strategic Indexing Research

  • A leading index provider for a variety of investable and benchmark indices. Approximately $50 billion is directly benchmarked to Wells Fargo's family of indices
  • Specialized equity and fixed income benchmarks to fulfill institutional and retail investors' needs for portfolio benchmarking and performance evaluation
  • Indices span corporate and municipal bonds, hybrid capital securities, and common and preferred stock

Structured Products Research

  • Comprehensive view of the CMBS, RMBS, CLOs, and Consumer ABS markets
  • Reports range from market overviews, relative value analysis, and detailed collateral analysis to commercial property market publications
  • CLO team ranked #1 in the 2017 Institutional Investor Fixed Income Research Survey

Wells Fargo Securities Research conferences are among the most widely attended on Wall Street, and bring together industry leaders, top executives, financial sponsors and investors to explore market and sector trends. Industry executives are given the opportunity to present their company's corporate and investment highlights, and each year we help more than 5,000 institutional investors explore these investment opportunities. 

Additionally, we arrange customized one-on-one meetings between management teams and institutional investors.

  • 3rd Annual Investment Grade Credit Strategy Roadshow & Conference
  • 21st Annual Real Estate Securities Conference
  • 8th Annual Energy Fundamentals Forum (MLP)
  • 3rd Annual Credit Opportunities Conference
  • 9th Annual Industrial & Construction Conference
  • 9th Annual Gaming Conference
  • 3rd Annual West Coast Energy Conference
  • 13th Annual Healthcare Conference
  • 7th Annual Net Lease REIT Forum
  • 9th Annual Media & Telecom Conference
  • 2nd Annual Wells Fargo Technology Summit
  • 17th Annual Energy Symposium
  • 6th Annual Investment Thought Leadership Forum

For more information please contact your Wells Fargo Securities representative. 

Please note: Wells Fargo Securities Research conferences and forums are by invitation only. Wells Fargo will review all registrants to confirm eligibility. Invitations may not be transferred. Dates and locations are subject to change.


  • Award-winning economic commentary (American Economic Association, 2017)

Equity Research

  • #2 Broker in Thomson Reuters StarMine Analyst Awards (2018)

Fixed Income

  • #1 Investment Grade Research (Institutional Investor, 2018)
  • #1 CLO Research (Institutional Investor, 2017)
  • #1 FX Major Currencies (Thomson Reuters, 2016)
  • #1 Municipal Bond Research Team (Smith's Research & Gradings, 2016)
  • #3 High Yield Research (Institutional Investor, 2017)
  • #2 in Fixed Income Research Overall (Institutional Investor, 2018)