Wells Fargo is also hiring WestLB's nine-member New York-based team to augment its subscription-finance business.

"The market dislocation in Europe has definitely created opportunities for U.S. banks," Dave Hoyt, Wells Fargo's head of wholesale banking, said in a prepared statement. "Wells Fargo continues to be well positioned to consider selective acquisitions, including transactions with European sellers. Acquisitions of high-quality assets are a core activity of the company and are consistent with our strong risk discipline."

Write to Christian Berthelsen at christian.berthelsen@dowjones.com

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