Clay Grumke

Clay Grumke

Clay Grumke is a consultant and expert affiliate with Bates Group, based in St. Louis, Missouri. Mr. Grumke uses his expertise in Retail Securities, Regulatory Investigations and Compliance and to serve our financial services clients and their counsel.

Prior to joining Bates, Mr. Grumke was Assistant General Counsel with Wells Fargo, where he was responsible for all litigation and regulatory matters for the Wealth and Investment Management Division, which included Wells Fargo Advisors, Trust, and Retirement Services.  Mr. Grumke and his team were in charge of regulatory inquiries, investigations and enforcement matters from the SEC, FINRA, OCC, FED, CFTC, and U.S. states and territories.  They also represented the firm and employees in litigation involving clients and competing firms. Additionally, his team conducted internal investigation and responded to third party subpoenas and garnishments.  Mr. Grumke provided ongoing advice to the CEOs and other leaders of the business units, including the Director of Wealth and Investment Management.  He met regularly with senior staff of various regulators to discuss cases, theories, positions and possible settlements or enforcement actions.    

Mr. Grumke spent 26 years representing A.G. Edwards and Sons, Wachovia Securities, and Wells Fargo and their employees.  He handled hundreds of internal investigations, regulatory and litigation matters, seeing over 50 arbitration matters through hearing.  As the Director of A.G. Edwards Legal Division, Mr. Grumke led his team through mergers with Wachovia and then Wells Fargo. 

Prior to joining Edwards, Mr. Grumke was a Felony Staff Attorney for the St. Louis Circuit Attorney's office, prosecuting criminal cases and trying 40 jury trials to verdict.  He has handled everything from individual customer complaints to major multi-million dollar regulatory settlements.  Mr. Grumke is a proven problem solver, crises manager, and advocate. He received his juris doctor and bachelor's in Accountancy from the University of Missouri – Columbia.


Clay Grumke

A Consultant and subject matter expert in these services:

  • Securities and Financial Services Litigation & Consulting
    • Retail
      • Securities and Financial Services Litigation & Consulting
      • Annuities
      • Auction Rate Securities (ARS)
      • Branch Management
      • Broker Dealer (B-D)
      • Broker Obligations
      • Clearing
      • Closed End Funds
      • Equities
      • Elder Issues
      • ETFs
      • Fiduciary Duties/Responsibilities
      • Fixed Income
      • Fraud
      • Insider Trading
      • Industry Standards
      • Legal
      • Municipal Securities
      • Mutual Funds
      • Options
      • Outside Business Activity
      • Preferred Securities
      • Puerto Rico - Supervision
      • Retirement Plans and IRAs
      • Risk Management
      • Selling Away
      • Senior Investors
      • Sales Supervision
      • Sales Practice
      • Suitability
      • Supervision
      • U-5 Reporting/Defamation
      • Unauthorized Trading
      • Wealth Management
      • Regulatory & Internal Investigations
      • Data, Analyses & Analytics
      • Financial Crimes
  • Regulatory & Internal Investigations
    • U.S. & Global Regulatory Investigations
    • Internal Investigations
  • Data, Analyses & Analytics
    • Early case Assessment
    • P/(L) Analyses
    • Damage Assessment & Evaluation
  • Financial Crimes
    • Internal Investigations



Clay L. Grumke, St. Louis, MO, Attorney, 2018-Present

Wells Fargo & Company, St. Louis, MO, Assistant General Counsel – Wealth and Investment Management, 2013-2017; Managing Counsel – Regulatory, 2008-2013

Wachovia Securities, LLC, St. Louis, MO, Sr. Vice President & Manager – Regulatory, 2007-2008

A.G. Edwards & Sons, Inc., St. Louis, MO, Vice President & Director of Law, 2007; Vice President & Assistant Director of Law, 2001-2007; Associate Vice President & Litigation Counsel, 1994-2001; Litigation Counsel, 1991-1994

Circuit Attorney’s Office, City of St. Louis, St. Louis, MO, Assistant Circuit Attorney, 1987-1991

U.S. District Court, Eastern District of Missouri, Law Clerk, Judge John K. Regan, 1986-1987


University of Missouri – Columbia, J.D., Chairman of the Order of the Barristers, Business Law Teaching Assistant, 1986

University of Missouri – Columbia, B.S. Accountancy, President of Business and Public Administration Student Council, Member Delta Sigma Pi Business Fraternity


Missouri Bar

Illinois Bar

Securities Industry and Financial Markets Association (SIFMA)

Speaker at FINRA Legal and Compliance Seminars