Wells Fargo & Co. is starting to see the positive outcomes of its expansion efforts on Wall Street, according to Vice Chairman Doug Braunstein.

Braunstein highlighted the recent investments made by CEO Charlie Scharf, indicating that the bank's strategic initiatives are yielding results.

This announcement coincides with Wells Fargo's involvement in Quikrete Holdings Inc.'s acquisition of Summit Materials Inc., a deal that was disclosed on Monday.

Braunstein emphasized the bank's intention to further strengthen its investment banking unit in the upcoming year, demonstrating a commitment to continued growth in this competitive sector.