Wells Fargo Securities Research and Economics Group Adds Three Senior Hires

NEW YORK--(BUSINESS WIRE)--

Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company 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 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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