By Joshua Franklin and David French
(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.
The divestment would represent the U.
S. bank's biggest shake-up since former Bank of New York Mellon Chief Executive Charles Scharf joined as CEO in 2019.
The exact price being negotiated could not be learned, but.....