Wells Fargo to divest asset management business to GTCR and Reverence Capital for $2.1bn
Wells Fargo & Company has agreed to divest its asset management business – Wells Fargo Asset Management (WFAM) to private equity firms GTCR and Reverence Capital Partners for $2.1 billion. As part of the deal, Wells Fargo will retain a stake of 9.9% in the asset management business and will continue to be its major […]