Wells Fargo & Co. has made two new additions to its government and institutional banking group in response to the rising needs of municipalities struggling to make ends meet amid falling revenue.

Peter Hill, head of the GIB team’s public finance investment banking segment — the umbrella group that contains Wells’ commercial banking, investment banking, and sales and trading capabilities — said the municipal market, like all markets, is subject to cyclicality. Wells sees the dour climate “as an opportunity for us to increasingly be a part of their solution,” he said.

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