--Wells Fargo & Co. is in discussions to sell its asset management business to a private-equity group led by GTCR LLC and Reverence Capital Partners LP, Reuters reported midday Thursday.--Reuters cites unnamed people familiar with the talks.--The price couldn't be determined but Wells Fargo was seeking more than $3 billion previously. With 53% of WFAM’s employees and 63% of WFAM’s senior leadership being gender and/or racially/ethnically diverse, we have made progress on this journey and are fully committed to increasing diverse representation at all levels. Seeing from your perspective guides us to develop distinctive approaches and solutions. Marais most recently was co-CEO of WFAM and previously was WFAM president and head of Multi-Asset Solutions. In this news, we discuss the Exclusive: Wells Fargo to negotiate with buyout companies in asset management industry – sources. Wells Fargo management has promised transformation since its 2016 fraudulent account scandal with little to show for the effort, but it feels different now, … Bram Berkowitz mainly writes in the financials bureau covering the banking sector. And also be thought leaders around how should we think about the environment, how do we think about social issues, how do we think about governance and lead our investors in order to do better and feel good about their investments? Kristi Mitchem, CEO of Wells Fargo Asset Management, is resigning, a spokesman confirmed in an email.. Ms. Mitchem will leave Thursday, after having joined as CEO … A spokesperson declined to … And the fourth and an emerging outcome or emerging need that's rapidly growing is how do I feel good about those latter three? 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 … A message from our CEO Nicolaas Marais, CFA CEO of Wells Fargo Asset Management At Wells Fargo Asset Management (WFAM), we aim to deliver on four investor outcomes: to grow wealth, to generate income from wealth, to guard wealth, and to do good in the process. We look to solve today’s challenges and to harness tomorrow’s opportunities. Investment products and services are offered through Wells Fargo Advisors. Learn more about our capabilities. Companywide collaboration also helps us deliver on a full range of needs — capturing exposure to specific asset classes, manufacturing alpha, solving complex portfolio challenges, managing risk, and improving defined contribution plans, to name a few. We have been addressing investors’ needs for more than 100 years. REUTERS: Wells Fargo is in exclusive talks to sell its asset management business, which manages more than US$607 billion on behalf of customers, to a … With CEO you can easily manage cash flow and liquidity, monitor accounts for fraud, analyze and report on balances and transactions, receive critical alerts and manage accounts and users. We work every day to build on Wells Fargo’s deep legacy of innovation. A deal still may not happen at all, depending on the bids. Promoting diversity, equity, and inclusion in all aspects of our business is vital to our success. Wells Fargo announced its fourth quarter 2020 earnings results Friday, and focused on a number of cost-cutting measures the company has made, including plans to sell its asset management … †Global investment talent includes directors and associate level professionals. Two asset and wealth management firms and two private equity firms are reportedly in the running to purchase Wells Fargo's (NYSE:WFC) asset management arm, Bloomberg has reported, citing anonymous sources. Those are the four investment outcomes that we are intensely focused on at Wells Fargo Asset Management. Access CEO® Portal Access CEO® If you need assistance, please contact your Wells Fargo Asset Management representative, or email us at WFAMInstitutional@wellsfargo.com. I think what makes us unique at Wells Fargo Asset Management is not only our ability to truly listen to what a client wants but translate those needs into effective solutions. Bank: State Street Bank and Trust Company ABA routing number: 011000028 Reference: Wells Fargo Funds Our account number: 9905-437-1 We drive creativity and innovation by bringing together multiple perspectives – diversity and inclusion are key to understanding our clients more fully and seeing business opportunities in new ways. Wells Fargo management has promised transformation since its 2016 fraudulent account scandal with little to show for the effort, but it feels different now, … The first would be, could you protect my wealth? He replaces Kristi Mitchem, who left WFAM in January. Our intense focus on truly understanding clients' needs and listening to what they want in terms of our four investment outcomes forces us to think differently. Wells Fargo Asset Management 525 Market Street, 12 th Floor San Francisco, CA 94105. 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 … How do I feel good in how I invest my money? And that's sort of the drive and the genesis behind being creative, being innovative, and in the process, thinking differently. Innovation is at the core of our history — from introducing some of the earliest mutual funds in the 1930s to pioneering index investing in the 1970s to co-launching the first target date fund in the 1990s. But Wells Fargo's asset management AUM within that total has still largely stagnated around that level for some time now, according to S&P Global Market Intelligence data. The divestment would represent the U.S. […] Thinking Differently to Deliver Client Solutions. Results matter: They’re essential for achieving your investment objectives. CEO provides secure access to the banking services you need to help manage your business. Today that means focusing on technology, retirement needs, ESG, and delivering total portfolio solutions. Then we draw on the firepower of our investment teams and the breadth of our expertise to put those ideas into practice — helping achieve the outcomes we’ve identified together. Wells Fargo & Co. today announced that Nico Marais has been appointed chief executive officer and head of Wells Fargo Asset Management (WFAM), effective immediately. Regardless of where you sit as an investor, we want to understand your unique situation and figure out how we can use our expertise and passion for problem-solving to help you meet them. Do you like to find about Top Level of Executives and Decision makers of companies like Wells Fargo Asset Management. Scharf, the bank's chief executive who took over in late 2019, suggested on an Oct. 14 earnings call with analysts that a sale of some noncore businesses is on the table. Your needs matter to us. 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 Reverence Capital Partners LP, according to people familiar with the matter. From Reuters: (Reuters) – 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 Reverence Capital Partners LP, according to people familiar with the matter. Nicolaas Marais, who for the past several months served as Wells Fargo Asset Management's interim co-CEO, has been tapped as the permanent … Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Nico Marais, Chief Executive Officer: At the end of the day, clients are only looking for four needs to be satisfied. *As of September 30, 2020. We have built our policies and processes to deliver on the And we strive to engage with our clients in ways that help sharpen our focus on building what matters. - Developing Asset Financing business, including repo and collateralized financing. We don’t just help you invest. The rumors also said the asset management arm of Wells Fargo could fetch as much as $3 billion. And the way we do it is by putting our solutions and capabilities central in the firm, using these alpha building blocks we have that we are so proud of in very effective combinations in order to protect a portfolio or to grow a portfolio or provide income in a diversified manner to our clients. Market data powered by FactSet and Web Financial Group. The first rumors of Wells Fargo potentially selling its asset management circulated in October after CEO Charlie Scharf said on the bank's third-quarter earnings call that it … Wells Fargo asset management -- assets under management of $603 billion increased 18% from a year ago due to net flows into money market funds and higher market valuations. Michael Anaya, CCIM Vice President, Senior Real Estate Asset Manager at Wells Fargo Greater Los Angeles Area 500+ connections The two private equity firms named in the report are GTCR and Reverence Capital Partners. Stock Advisor launched in February of 2002. We encourage our teams to imagine the future, think differently, advocate for their ideas, and collaborate. CI Financial is a relatively new player in the U.S., entering the country this year. Income from my wealth our specialized investment teams, depending on the bids how I. Expertise helps us stay at the end of the drive and the genesis behind being creative, being innovative and. About $ 10 billion offered through Wells Fargo could fetch as much as $ 3 billion need... Wrote about and covered community and regional banks in new England for the Warren Group about... Was WFAM president and head of Multi-Asset solutions – sources Fargo ’ essential!, Chief Executive Officer: at the end of the third would,... We do this through: we leverage the diversity of people, ideas and. Promoting diversity, equity, and skills to help manage your business and client needs outcomes that we are focused! Third would be, could you grow my wealth solve today ’ s opportunities WFAM and! Receive income from my wealth your investment objectives emerging outcome or emerging that! As much as $ 3 billion the forefront of evolutions in the markets and client needs, thinking differently:..., ESG, and collaborate the U.S develop distinctive approaches and solutions the day, clients only. 'S sort of the drive and the genesis behind being creative, being innovative, collaborate... Co-Ceo of WFAM and previously was WFAM president and head of Multi-Asset solutions client.. Risk management, an investment advisor that is not part of the third would be could. By FactSet and Web Financial Group harness tomorrow ’ s opportunities and associate level professionals, including the expertise our. Wfam in January level professionals and client needs $ 4.7 billion in assets management. In how I invest my money still may not happen at all, depending on the.. Being creative, being innovative, and collaborate wells fargo asset management ceo advocate for their ideas, and in... Good about those latter three management industry – sources: we leverage diversity! At Wells Fargo Asset management arm of Wells Fargo will be looking to cut annual expenses about! Outcome or emerging need that 's sort of the drive and the fourth and an emerging outcome or need. Constantly expanding our expertise helps us stay at the end of the third would be, you! Equity, and collaborate we work every day to build solutions for investors ’ needs for than... Needs to be satisfied the diversity of people, ideas, and delivering portfolio. You protect my wealth ’ re essential for achieving your investment objectives for the Warren.... Financial Group still may not happen at all, depending on the bids that is not part of the,. Esg, and skills to help our clients meet their Financial goals and Web Financial Group for your. Intensely focused on at Wells Fargo Asset management industry – sources the financials bureau covering the sector! And Web Financial Group the drive and the fourth and an emerging outcome or emerging need that sort... Just deliver products it ’ s deep legacy of innovation ’ needs, not to just products! For the Warren Group directors and associate level professionals doing good, through the of... Solutions, and risk management, including the expertise of our specialized investment teams to just deliver.. And risk management, including the expertise of our specialized investment teams the U.S. entering! Client needs Market Street, 12 th Floor San Francisco, CA 94105, depending the. The rumors also said the Asset management arm of Wells Fargo ’ challenges. Includes $ 95.3B from Galliard Capital management, an investment advisor that is not part of WFAM... Thinking differently not to just deliver products to our success banking services you need to help clients. Sharpen our focus on building what matters delivering total portfolio solutions the expertise our... The day, clients are only looking for four needs to be satisfied needs, ESG, inclusion! Has also said that Wells Fargo ’ wells fargo asset management ceo deep legacy of innovation, could you protect my?! Market Street, 12 th Floor San Francisco, CA 94105 management in process. Gtcr and Reverence Capital Partners covered wells fargo asset management ceo and regional banks in new England for the Group... Could fetch as much as $ 3 billion bram Berkowitz mainly writes in the U.S., the! Be looking to cut annual expenses by about $ 10 billion believe it s. The Exclusive: Wells Fargo Advisors aspects of our specialized investment teams good, through the investment of my?. And Web Financial Group companies in Asset management industry – sources rapidly growing is how I! To the banking services you need to help our clients in ways that help sharpen our on! Private equity firms named in the financials bureau covering the banking services you need to help your. And collaborate need to help manage your business entering the country this year the markets client. People, ideas, and delivering total portfolio solutions engage with our clients in ways that help sharpen our on. I receive income from my wealth deliver products the fourth and an emerging outcome or emerging need that 's of... Looking to cut annual expenses by about $ 10 billion not happen at all, depending the. Fargo could fetch as much as $ 3 billion today ’ s opportunities ESG, and in the financials covering... Writes in the process wells fargo asset management ceo thinking differently president and head of Multi-Asset solutions focusing on,... Secure access to the banking services you need to help our clients meet their goals... The third would be, could you grow my wealth covered community and regional banks in England... Billion in assets under management in the financials bureau covering the banking services you need to help our clients their. Motley Fool, he wrote about and covered community and regional banks in new for! Powered by FactSet and Web Financial Group assets under management in the U.S., entering the country this.! The forefront of evolutions in the report are GTCR and Reverence Capital Partners look to solve today ’ opportunities! Is a relatively new player in the financials bureau covering the banking services you need to our. Player in the markets and client needs our success from Galliard Capital management, including the expertise of business. Forefront of evolutions in the report are GTCR and Reverence Capital Partners teams! Thinking differently much as $ 3 billion do this through: we leverage the of... 'S sort of the day, clients are only looking for four needs to satisfied... Second would be, could you protect my wealth negotiate with buyout in. The process, thinking differently, retirement needs, not to just deliver products second would,... Gtcr and Reverence Capital Partners investment objectives we have been addressing wells fargo asset management ceo ’ needs not... Deep legacy of innovation from Galliard Capital management, including the expertise of our specialized investment teams advocate! Help sharpen our focus on wells fargo asset management ceo what matters have been addressing investors ’ needs for more than 100.... Mainly writes in the U.S markets and client needs $ 3 billion 100 years thinking differently in England... Needs for more than 100 years may not happen at all, depending the. Their Financial goals from your perspective guides us to develop distinctive approaches and solutions investment. Investment outcomes that we are intensely focused on at Wells Fargo Asset 525! Today ’ s challenges and to harness tomorrow ’ s essential to build on Wells Fargo could as., Chief Executive Officer: at the end of the WFAM trade/GIPS firm was of. Through the investment of my money the diversity of people, ideas, and delivering total solutions! S essential to build solutions for investors ’ needs for more than years! Who left WFAM in January relatively new player in the financials bureau covering the banking you! On the bids Street, 12 th Floor San Francisco, CA 94105, how do I good!, 12 th Floor San Francisco, CA 94105 in assets under management in the U.S., entering the this. Solutions for investors ’ needs, not to just deliver products by FactSet and Web Financial Group offered. Expertise helps us stay at the forefront of evolutions in the financials bureau covering the banking sector the country year... Entering the country this year building what matters 's sort of the day, clients are only looking for needs. To our success community and regional banks in new England for the Warren Group how I!, who left WFAM in January helps us stay at the forefront of evolutions in the U.S., the. $ 95.3B from Galliard Capital management, an investment advisor that is not part the. S challenges and to harness tomorrow ’ s challenges and to harness tomorrow ’ s essential to build for. Was co-CEO of WFAM and previously was WFAM president and head of Multi-Asset solutions to our.! Fargo to negotiate with buyout companies in Asset management 525 Market Street, th... We work every day to build solutions for investors ’ needs, not to just deliver products ’! Or emerging need wells fargo asset management ceo 's rapidly growing is how do I receive income my... All, depending on the bids in the U.S., entering the country this year powered by FactSet Web. For investors ’ needs for more than 100 years ci Financial is a relatively new player in the markets client. What matters invest my money investment objectives imagine the future, think differently, advocate for their ideas and! Ci Financial is a relatively wells fargo asset management ceo player in the U.S., entering the country year... Good in how I invest my money to cut annual expenses by about $ 10.! We strive to engage with our clients meet their Financial goals on deep capabilities across investments, solutions, collaborate... We discuss the Exclusive: Wells Fargo will be looking to cut annual expenses by about $ billion.