The Globe and Mail reports in its Tuesday edition Wells Fargo & Co. is building out its securities arm in Canada, appointing someone to run investment banking and naming capital-market co-heads. The Globe's Tim Kiladze writes Darin Deschamps, who previously oversaw coverage of financial institutions at National Bank Financial, has joined Wells Fargo to lead investment banking. He and Sandra Taube Godard, who joined the dealer in 2013, have also been named co-heads of the entire capital markets arm. Historically, Wells Fargo, based in San Francisco, was best known as a personal and commercial bank. Since the financial crisis, when it acquired Wachovia, the lender has invested heavily in capital markets. Last year Wells Fargo Securities ranked ninth in global league tables, bringing in $2.36-billion (U.S.) worth of fees. The majority of Wells Fargo's capital markets revenues come from underwriting bond issues and from lending to corporate clients. By comparison, Royal Bank of Canada's capital markets arm, which has also rapidly expanded, ranked 11th, earning $2.15-billion in fees. In order to compete in the crowded Canadian market, Wells Fargo will target investment banking clients.