News Formal

Wells Fargo seeks investment firm licence from French regulator as part of Brexit strategy

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Wells Fargo & Co. said Tuesday it is seeking an investment firm licence from the French regulator as part of its Brexit strategy. "With Brexit on the horizon, Wells Fargo is committed to providing a transition, which is as seamless as possible, for its markets and investment banking customers within the European Union (EU) and European Economic Area (EEA)," said Alicia Reyes, head of Wells Fargo Securities in Europe, Middle East and Africa. The U.K. decision to leave the European Union is forcing non-U.K. bank to relocate some of their operations to countries that are still in the E.U. as they can no longer have a single licence to operate across the trading block from a U.K. base. The bank said it will make further announcements on its Brexit strategy in the near future. Shares were slightly lower premarket and have fallen 12.3% in 2018, while the S&P 500 has gained 2.9%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wells Fargo: Market 'tailspin' could last another one to two weeksThe sell-off across the market is going to continue for at least another week, Wells Fargo says after the worst day for the Dow Jones Industrial Average and S&P 500 since February. Fake news. No one has any idea what the market will do. Good thing this economy is on fire. 🔥🔥🔥🔥 Or 3 weeks. Maybe 4 or 5. Maybe 1 year. The Dow goes down 800 points, we are going to hell. Oh wait, the Dow is up 34 points. Have a nice day.
Source: CNBC - 🏆 12. / 72 Read more »

Wells Fargo is slated to report earnings — here's what the Street expectsThe San Francisco bank is planning big staff cuts as part of an ongoing turnaround effort. Earnings will look great at first. Stagnate. Justify posterity measures against holders. Wait and see. Own portion yet figured way remove my $ from me yet remains in name did it to 30,000 others So many more screwed Check federal reserve if you had money forfieted. Lost Forfiet
Source: CNBC - 🏆 12. / 72 Read more »