Wells Fargo in talks to sell asset management business to PE firms: Report

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.....

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