Wells Fargo unit sale hailed as opportunity
Wells Fargo unit sale hailed as opportunity Nicolaas Marais said the money management unit needs investment to thrive. Wells Fargo Asset Management's new private equity owners may be just what the business needs to help it achieve scale and compete in the $1 trillion AUM club, industry players say. Parent company Wells Fargo & Co. announced Feb. 23 it was selling its money management business with $603 billion in assets under management in a $2.1 billion deal to private equity firms GTCR LLC and Reverence Capital Partners. The split between the two firms was not disclosed. The deal followed m...
Source: pionline.com