Wells Fargo Wins Big as Rail Deal Shakes Up Wall Street Rankings

Almost $100 billion worth of deals in the industrials sector is shaking up Wall Street’s advisory rankings and providing a big win for one firm that’s been hiring aggressively to scoop bigger mandates.

Wells Fargo & Co. has secured advisory roles with Union Pacific Corp. on its $85 billion acquisition of smaller rail rival Norfolk Southern Corp., and also industrial gas equipment maker Chart Industries Inc. on its $13.6 billion takeover by Baker Hughes Co. Both deals were confirmed on Tuesday morning.

The San Francisco-based lender, which traces its roots back to America’s industrial revolution, is not a regular ...