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Allspring Global Investments was originally the asset management unit of Wells Fargo known as Wells Fargo Asset Management (WFAM) that was established in 1995. [2]In October 2020, Wells Fargo was exploring the sale of WFAM as part of its efforts to focus more on core competencies and improve its financial performance after the Wells Fargo cross-selling scandal.
Wells Fargo & Co is in exclusive talks to sell its asset management business, which manages more than $607 billion on behalf of customers, to a private equity consortium led by GTCR LLC and ...
The firm was fully owned by Wells Fargo prior to being spun off in 2021 to Allspring Global Investments. [6] In 2015, Zinser founded Roxbury Asset Management, a London-based firm which manages and invests in liquid alternative strategies. [2] [8] He serves as its chief executive officer. [3]
In 2021, the company sold its asset management division, Wells Fargo Asset Management (WFAM) to private equity firms GTCR and Reverence Capital Partners for $2.1 billion. [91] WFAM had $603 billion in assets under management as of December 31, 2020, [92] [93] of which 33% was invested in money market funds. [94]
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Wells Fargo Asset Management Makes a Strategic Investment in the Rock Creek Group Firm takes minority ownership stake in alternatives asset manager CHARLOTTE, N.C.--(BUSINESS WIRE)-- Wells Fargo ...
The brand was merged into Wells Fargo Advantage Funds and subsequently phased out following Wells Fargo's acquisition of Wachovia. [1] The brand was officially retired on July 20, 2010. [2] Outside the United States, the sales and distribution business was conducted under the brand name of Wachovia Global Asset Management.
The Fed had received calls to ease the asset cap on Wells Fargo as the logistical challenges with administering the $349 billion in PPP loans continued. Former Federal Deposit Insurance Corp ...