For 2.1 billion dollars

Wells Fargo Sells its Asset Management Business to GTCR LLC and Reverence Capital Partners

Date:

Wells Fargo
foto-cedida. Wells Fargo vende su negocio de gestión de activos a GTCR LLC y Reverence Capital Partners

Autor: Beatriz Zúñiga

  1. As part of the transaction, Wells Fargo will own a 9.9% equity interest and will continue to serve as an important client and distribution partner
  2. The agreement is in line with the decisions made by Charles Scharf, former BNY Mellon CEO, who joined the bank in 2019 following a sales practices scandal
  3. The deal is expected to be fully closed by the second half of 2021