The name change to Allspring Global Investments is expected to go into effect upon the closing date of the transaction, which is anticipated to occur in the second half of 2021, subject to . The Portfolio Management Technology team is responsible for Tier 2+ daily production support of all critical portfolio management systems for Allspring Global Investments (formerly Wells Fargo Asset Management). The Wells Fargo & Co. $2.1 billion sale of its Wells Fargo Asset Management unit to GTCR LLC and Reverence Capital Partners LP was closed Monday. Wells Fargo Asset Management is set to rebrand as Allspring Global Investments under its new CEO upon closure of its acquisition by GTCR and Reverence Capital Partners. CHARLOTTE, N.C., Nov. 1, 2021 /PRNewswire/ -- Allspring Global Investments closed-end funds today announced that the previously communicated transaction to sell Wells Fargo Asset Management . On February 23, 2021, GTCR LLC and Reverence Capital Partners, L.P. announced that they had agreed to acquire WFAM from Wells Fargo & Company (NYSE: WFC). This marks the close of the acquisition of Wells Fargo Asset Management by GTCR and Reverence Capital Partners. The new name Allspring Global Investments reflects the newly . The name change, which was approved the board of trustees of the Wells Fargo Funds, is expected to go into effect on Oct. 11. The name change is expected to go into effect on October 11, 2021. CHICAGO and NEW YORK, July 26, 2021 -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the newly independent company will be rebranded as Allspring Global Investments. The private equity firms buying Wells Fargo & Co.'s asset management business for $2.1 billion have poached another executive from State Street Global Advisors to build out the legal and . Private equity firms GTCR LLC and Reverence Capital Partners, L.P. have announced that upon closing of their acquisition of Wells Fargo Asset Management, announced last February, the newly independent company will be rebranded as Allspring Global Investments. This date for the name change replaces the previously announced date of October 11, 2021. 03 November 2021 1 min read. EOD. The Beginning of Allspring Global Investments November 1, 2021 Today marks the start of a new chapter for Galliard Capital Management, as our parent, Allspring Global . Wells Fargo Asset Management is set to get a new name and CEO later this year, after GTCR . The new firm, Allspring Global Investments, started operating as an independent firm on Monday,Allspring said in a news release. Included in Allspring Share this article. The new closed-end fund names will be: Allspring Income Opportunities Fund (NYSE American . Joseph A. Sullivan, former Chairman and CEO of Legg Mason, will assume role of CEO upon closing of previously announced transaction that will establish Allspring as an independent company. WELLS FARGO ASSET MANAGEMENT (INTERNATIONAL) LIMITED: SHAREHOLDER: indirect: 2021-11-01: Private Funds. Find the latest Allspring Growth A (SGRAX : XNAS) quote with Morningstar's data and independent analysis. GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the newly independent company will be rebranded as Allspring Global Investments.The new name Allspring Global Investments reflects the newly independent firm's rich history in investment leadership and its commitment to renewal, growth, and meaningful . After the closing of Wells Fargo (NYSE: WFC) Asset Management to GTCR LLC and Reverence Capital Partners, the business will be renamed Allspring Global Investments, the companies said. The name change, which was approved the board of trustees of the Wells Fargo Funds, is expected to go into effect on Oct. 11. Wells Fargo Asset Management 's closed-end funds will change their names to include the name Allspring. CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the. Firm management, portfolio managers, and employees hold a significant share of Allspring's equity. Allspring Global Investments | 22,144 followers on LinkedIn. Gordon currently works for Allspring Funds Management, LLC. GTCR and Reverence Capital Partners will rebrand Wells Fargo Asset Management as Allspring Global Investments amid the closing of their acquisition. The new closed-end fund names will be: Allspring Income Opportunities Fund (NYSE American: EAD . Allspring is a company committed to thoughtful investing, purposeful planning, and the desire to elevate investing to be worth more. . Wells Fargo will own a 9.9% stake in the asset management unit and will continue as a client and distribution partner, the bank said. ERH. CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), Kimberly Gordon is a financial advisor who works in Boston, Massachusetts, who has been in the advisory business for 11 years. CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the newly independent company will be rebranded as Allspring Global Investments. The name change, which was approved the board of trustees of the Wells Fargo Funds, is expected to go into effect on Oct. 11. Joseph A. Sullivan, executive chairman and CEO of Allspring, formerly Wells Fargo Asset . The asset manager will be renamed Allspring Global Investments and will be led by Joseph A. Sullivan. Allspring Global Investments today announced that the firm has officially commenced operations as an independent asset management firm. Wells Fargo Asset Management to Become Allspring Global Investments; Initiates Leadership Transition. Copied. GTCR and Reverence Capital Partners will rebrand Wells Fargo Asset Management as Allspring Global Investments amid the closing of their acquisition. Joseph A. Sullivan. Allspring Global Investments, a newly independent company forming through the acquisition and rebranding of Wells Fargo Asset Management later this year, has appointed Kate Sandman McKinley to . Current CEO Nico Marais will retire and become . SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Asset Management (WFAM) today announced that the closed-end funds' names are expected to change from "Wells Fargo" to "Allspring" on December . Nov 2, 2021. Wells Fargo Asset Management 's closed-end funds will change their names to include the name Allspring. CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the . Education University of Massachusetts . This marks the close of the previously announced acquisition of Wells Fargo Asset Management by GTCR LLC and Reverence Capital Partners, L.P.* This marks the close of the previously announced acquisition of Wells Fargo Asset Management by GTCR LLC . As part of the transition, Joseph A. Sullivan will become Chief Executive Officer, in addition to his previously announced role as . CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), After the closing of Wells Fargo (NYSE: WFC) Asset Management to GTCR LLC and Reverence Capital Partners, the business will be renamed Allspring Global Investments, the companies said. Wells Fargo Asset Management (WFAM) has been rebranded as Allspring Global Investments following its acquisition by GTCR and Reverence Capital Partners. Rooted in decades of trusted asset management experience, Allspring is staying true to its core investment roots while reinventing itself. September 30, 2021. the previously announced $2.1 billion acquisition of Wells Fargo Asset Management and related legal entities (including Galliard) by GTCR LLC and Reverence Capital Partners, L.P. 2021-08-03: EX-99 . Allspring Global Investments, formerly Wells Fargo Asset Management, has big plans for the future. The firm [] Senior Sales Associate - Institutional Client Group at Allspring Global Investments July 26, 2021 - 5:25 am. JUL 26, 2021 - 6:50 am. Wells Fargo Asset Management 's closed-end funds will change their names to include the name Allspring. 2 On November 1, 2021, the sale of Wells Fargo Asset Management from Wells Fargo & Company to certain private funds of GTCR LLC and Reverence Capital Partners, L.P. closed, forming Allspring Global Investments, a privately held asset management firm with $575 billion in assets under management as of December 31, 2021. Joseph A. Sullivan will take over as CEO of Allspring Global Investments, the new name for Wells Fargo Asset Management, after its sale to GTCR and Reverence Capital Partners . Who Acquired Wells Fargo Asset Management? US investment bank Wells Fargo agreed to sell off its asset management arm to the private equity firms for $2.1 billion in February as it looked to refocus its . Wells Fargo Asset Management (WFAM) today announced that the closed-end funds' names are expected to change from "Wells Fargo" to "Allspring" on December 6, 2021. Allspring Global Investments, a newly independent company forming through the acquisition and rebranding of Wells Fargo Asset Management later this year, has appointed Kate Sandman McKinley to . The newly independent asset manager has $587bn of assets under management, 1,400 employees, and it will be headquartered in Charlotte, North Carolina. This sale includes Wells Fargo Bank N.A.'s business of acting as trustee to its collective investment trusts and all related WFAM legal entities. In early 2013, GTCR LLC and Reverence Capital Partners L. were acquired by private equity firm ING Group NV. I have reviewed this report on Form N-CSR of Wells Fargo Funds Trust on behalf of the following series: Wells Fargo Asset Allocation Fund, Wells Fargo Growth Balanced Fund, Wells Fargo Moderate Balanced Fund, Wells Fargo C&B Large Cap Value Fund, Wells Fargo Diversified Equity Fund, Wells Fargo Emerging Growth Fund, Wells Fa. This marks the close of the previously announced acquisition of Wells Fargo Asset Management by GTCR LLC and Reverence Capital Partners, L.P.* . Reuters, citing sources, reported in January that the bank was . The new name Allspring Global Investments reflects the newly independent firm's rich history in investment leadership and . The fund house began trading under the new name from 1 November and has inherited assets under management of more than $587bn, offering . This date replaces the previously announced date of October 11, 2021. GTCR and . Copied. EAD. WELLS FARGO VARIABLE TRUST FUNDS. Wells Fargo Asset Management (WFAM) today announced that following approval by the Board of Trustees of the Wells Fargo Funds on July 15, 2021, the WFAM closed-end funds will change their names to include the name Allspring. The name change to Allspring Global Investments is expected to go into effect upon the closing date of the transaction, which is anticipated to occur in the second half of 2021, subject to . Current CEO Nico Marais will retire and become . This position will serve as a player/coach type of role within the team, predominately centered on the daily support and streamlining . Throughout their career, they have worked at Wells Fargo Clearing Services, LLC, Wells Fargo Funds Distributor. Wells Fargo Asset Management has officially commenced operations as Allspring Global Investments, eight months after the firm was bought by a duo of private equity firms. . November 3, 2021 898 Allspring Global Investments has officially commenced operations as an independent asset management firm, as a US-based manager with US$587 billion assets under management (AUM). Allspring Global Investments announced on November 1, 2021, that the firm has officially commenced operations as an independent asset management firm. SAN FRANCISCO-- ( BUSINESS WIRE )--Wells Fargo Asset Management (WFAM) today announced that following approval by the Board of Trustees of the Wells Fargo Funds on July 15, 2021, the WFAM closed . ERC. EAD. Private equity firms GTCR LLC and Reverence Capital Partners L.P. have completed their previously announced acquisition of Wells Fargo Asset Management and have rebranded the company as Allspring Global Investments. Wells Fargo Asset Management May 2020 - Present 2 years 2 months. Wells Fargo Asset Management has been acquired by Allspring Global Investments and the company's name will be changed to Allspring Global Investments from Wells Fargo Asset Management. By Johney Amala. . CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the. Stay up to date with the current NAV, star rating, asset allocation, capital gains, and . July 26, 2021, 9:25 AM UTC. November 01, 2021 Joseph Sullivan, CEO of Allspring Asset Management (Chris Goodney/Bloomberg) Wells Fargo Asset Management, now known as Allspring Global Investments, is officially free of its. On November 1, 2021, Wells Fargo & Company ("Wells Fargo") closed on a transaction (the "Transaction") involving the sale of Wells Fargo Asset Management Holdings, LLC (now known as Allspring Global Investments Holdings, LLC), direct pare nt entity of each of the entities listed above, Wells Fargo Asset Management to Become Allspring Global Investments; Initiates Leadership Transition. Allspring Global Investments is the trade name . The Board of Trustees of the Wells Fargo Funds approved the closed-end fund name changes to include the name Allspring on July 15, 2021. 11-23 sec.gov - SUB-ADVISORY AGREEMENT AMONG WELLS FARGO FUNDS TRUST, ALLSPRING FUNDS MANAGEMENT, LLC AND ALLSPRING GLOBAL INVESTMENTS, LLC This SUB-ADVISORY AGREEMENT (this "Agreement") is made as of this 1st day of November, 2021, by and among Wells Fargo Funds Trust (the "Trust"), a statutory trust organized under the laws of the . News provided by. CHARLOTTE, N.C., Nov. 1, 2021 /PRNewswire/ -- Allspring Global Investments closed-end funds today announced that the previously communicated transaction to sell Wells Fargo Asset . CHICAGO and NEW YORK, Aug. 18, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P., which agreed to acquire Wells Fargo Asset Management (WFAM) earlier this year, today announced . Name Country Fund Identification Number Fund Type Gross . Wells Fargo has officially spun off its asset management business. As part of the sale, the buyers . GTCR and . ALLSPRING FUNDS MANAGEMENT, LLC: GENERAL PARTNER: indirect: 2020-07-01: SULLIVAN, JOSEPH, ANDREW: MANAGER ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC: 11/01/2021: Indirect Other: . JUL 26, 2021 - 6:50 am. On February 23, 2021, GTCR LLC and Reverence Capital Partners, L.P. announced that they had agreed to acquire WFAM from Wells Fargo & Company (NYSE: WFC). (Each a "Fund", together the "Funds") Wells Fargo Asset Management today announced that the Funds' names will be changing from "Wells Fargo" to "Allspring" on December 6, 2021. The new closed-end fund names will be: Allspring Income Opportunities Fund (NYSE American . By Annabel Smith. Its new owners have said that the firm's PMs and employees will collectively hold a 'significant' share of the company's equity, while former owner Wells Fargo will retain a 9.9% stake. SAN FRANCISCO, July 26, 2021 -- ( BUSINESS WIRE )--Wells Fargo Asset Management (WFAM) today announced that following approval by the Board of Trustees of the Wells Fargo Funds on July . CHICAGO and NEW YORK, Feb. 23, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. announced today that they have signed a definitive agreement to acquire Wells . As part of the transition, industry veteran Joseph Sullivan has been named CEO of the Allspring, in addition to his previously announced role as executive chairman. CHICAGO and NEW YORK, July 26, 2021 /PRNewswire/ -- GTCR LLC and Reverence Capital Partners, L.P. today announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the . 0. Allspring, an independent asset management firm, has more than $587 billion in assets under management and serves both institutional and wealth management clients. 1 Under the terms of the agreement, the purchase price is . A company committed to thoughtful investing, purposeful planning, and the desire to deliver outcomes that expand above and beyond financial gains. Wells Fargo Company (NYSE: WFC) today announced that it has entered into a definitive agreement to sell Wells Fargo Asset Management (WFAM) to GTCR LLC and Reverence Capital Partners, L.P. The new closed-end fund names will be: Allspring Income Opportunities Fund (NYSE American: EAD) Allspring Multi . Share this article.