The US bank has seen its issuance and sales of structured products take a deep dive since the beginning of the year.

Wells Fargo has reported net revenues of US$18 billion in Q1 21, compared with US$17.7 billion in the first quarter of 2021, despite a significant fall in structured products activity. The bank distributed a total of 78 structured products during the first quarter of 2021 with sales volume of US$300m, compared with 162 products in Q1 20 worth US$440m, SRP data shows. The bank’s issuance as a distributor group initially tumbled in the second quarter of 2020 to 85 products valued at US$230m

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