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Wells Fargo sells asset management business

Wells Fargo has entered into a definitive agreement to sell Wells Fargo Asset Management (WFAM) to GTCR and Reverence Capital Partners for US$2.1 billion, while also offloading four of its closed-end funds.

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Read more: WFAMGTCRWells Fargo Asset ManagementReverence Capital PartnersNico MaraisCollin RocheBarry SommersLegg MasonJoseph SullivanMilton Berlinski