Representatives for Wells Fargo, GTCR and Reverence declined to comment. The sale of the asset management business a step to turn Wells Fargo around following a years-old sales practices scandal. According to Reuters, which cited unnamed sources, Wells is in exclusive talks to sell its asset management arm to a private equity group led by GTCR LLC and Reverence Capital Partners LP.. A spokesman for Wells Fargo declined to comment when approached by Citywire. They have been cutting costs and shedding noncore businesses. Wells Fargo declined to comment. Wells Fargo News . The asset management division could fetch more than $3 billion, people familiar with the matter said in October. The divestment would represent the U.S. bank's biggest shake-up since former Bank of New York Mellon Chief Executive … 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. Wells Fargo (WFC +3.1%) is in exclusive talks to sell its asset management business to a private equity group led by GTCR LLC and Reverence Capital … The sale of the asset management business is one of many steps taken by Scharf to turn Wells Fargo around following a years-old sales practices scandal. Follow WFC. Wells Fargo reportedly exploring sale of asset management business Wells Fargo fires over 100 staffers for COVID-19 relief abuse Wells Fargo third-quarter profit plunges 57 percent Chicago-based GTCR and New York-based Reverence did not respond to requests for comment. When inquired by Reuters, Wells Fargo declined to comment, while US-based GTCR and Reverence did not respond to requests for comment. Wells Fargo & Co. is in talks to sell its asset management business to a private equity consortium led by GTCR and Reverence Capital Partners, according to … Representatives for Wells Fargo, GTCR and Reverence declined to comment. Law360 (January 12, 2021, 5:24 PM EST) -- Wells Fargo Merchant Services LLC has agreed to pay up to $40 million in a settlement to end claims by … He has been cutting costs and shedding noncore businesses. Wells Fargo is reportedly in talks to sell its asset management arm. The asset management division could fetch more than $3 billion, people familiar with the matter said in October. 31.93-2.82 (-8.12%) Upgrade to Real-Time Afterhours (Closed) Wells Fargo in Talks to Sell Asset Management Business, Reuters Reports January 14 2021 - … REUTERS: Wells Fargo is in exclusive talks to sell its asset management business, which manages more than US$607 billion on behalf of customers, to a …

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