This part of Wells Fargo's business is taking off

Adam Jeffery | CNBC

More than five years after Wells Fargo purchased Wachovia at the height of the financial crisis, one of its key businesses—investment banking—is finally beginning to pay off.

Industry league tables— generally treated as scorecards ranking banks based on the number and volume of deals they did—showed the San Francisco-based company creeping into the top 10 for the first time. And Wells is winning, according to CEO John Stumpf, by taking business away from its rivals.