Wells Fargo is to sell its Wells Fargo Asset Management division to private equity firms GTCR LLC and Reverence Capital Partners, and appointed a former Legg Mason CEO as executive chair.
Wells Fargo sells asset-management unit to private equity firms for $2.1-billion David French and Noor Zainab Hussain Reuters Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Wells Fargo & Co said on Tuesday it had agreed to sell its asset management business, which manages more than $603 billion on behalf of customers, to private equity firms GTCR LLC and Reverence Capital Partners for $2.1 billion.
The sale represents the biggest shake-up at the U.S. bank since former Bank of New York Mellon top boss Charles Scharf joined as chief executive officer in 2019. Reuters reported in January that a Wells Fargo deal with the buyout firms was close.
Timothy Beaudoin, Newberry City Fire Department, and 21 other recruits recently graduated from the S.C. Fire Academy.
Courtesy photo
NEWBERRY Timothy Beaudoin, Newberry City Fire Department, graduated from the South Carolina Department of Labor, Licensing and Regulation’s South Carolina Fire Academy (eight-week firefighter candidate school in Columbia) on Dec. 4.
Beaudoin, along with 21 other recruits, underwent a 320-hour training program of classroom and hands-on firefighting skills development. Keynote speaker was Chief William Broscious, Columbia Fire Department.
“This challenging program requires commitment, passion, and dedication,” Fire Academy Superintendent Dennis Ray said. “These recruits have successfully worked together as a team, performed extensive hands-on training with live fires, and passed intensive practical skills evaluations and written tests to meet the National Fire Protection Association standards.”