Wells Fargo expects investment banking and trading revenue to rise by mid-teen percentage points in the second quarter, CEO Charlie Scharf said on Wednesday.
Speaking at the Bernstein Conference, Scharf said the bank was also on track for low double-digit revenue growth in wealth management.
In the first quarter, Wells Fargo saw a 12.7% revenue rise in its investment bank arm and a 19% increase in markets revenue.
Scharf said client activity in investment banking and market businesses remained strong, while the bank continued to see opportunities to deepen relationships by deploying more balance sheet.
The comments come after regulators lifted Wells Fargo's asset cap, freeing the lender to expand more aggressively in deposits and lending after years of restrictions.
Scharf also said Wells Fargo expects to grow with "little or no expense growth," as it looks for further efficiency gains across the company.
Wells Fargo's outlook follows upbeat commentary from rivals. JPMorgan Chase CEO Jamie Dimon said at the same conference that the bank's investment banking fees could rise 10% or more in the second quarter.
Bank of America also expects trading revenue to climb about 15% year over year in the quarter, CEO Brian Moynihan said, as volatility is tied to shifting U.S. tariffs.
