GTCR and Reverence Capital Partners to Acquire Wells Fargo Asset Management
Leading private equity firms to partner with management, portfolio managers, and employees to establish the Wells Fargo unit as an independent company
- As an independent company, Wells Fargo Asset Management will operate with the singular focus of best serving the needs of its global institutional, retirement, and wealth management clients
- GTCR and Reverence Capital are focused on investing in the franchise to support sustained growth of the business, building upon the company s culture of investment performance, innovative solutions, and client service
- The business will continue be led by CEO Nico Marais and other senior managers of WFAM
Capital and GTCR Acquire WFAM themiddlemarket.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themiddlemarket.com Daily Mail and Mail on Sunday newspapers.
Senior Advisor, Franklin Templeton
Since 2013, Joseph A. Sullivan has served as president and CEO of Legg Mason. He served as the interim CEO before his unanimous appointment and was selected for his ability to bring a fresh perspective and renewed energy to the over century-old global asset management firm.
Sullivan is known for his “no-nonsense management style” and was instrumental in rebuilding and regenerating Legg Mason into a premier asset company. Since Legg Mason was acquired in February by Franklin Templeton, Sullivan remains chairman and CEO of Legg Mason and is a senior adviser working closely with leadership at Franklin Templeton to “create meaningful long-term benefits for our clients and provide our shareholders with a compelling valuation for their investment.”