Wells Fargo & Co said on Tuesday it had agreed to sell its asset management business, which manages more than US$603 billion on behalf of customers, to private equity firms GTCR LLC and Reverence Capital Partners for US$2.1 billion.
FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie KeithREUTERS: Wells Fargo & Co said on Tuesday it had agreed to sell its asset management business, which manages more than US$603 billion on behalf of customers, to private equity firms GTCR LLC and Reverence Capital Partners for US$2.1 billion.