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.
The fund house began trading under the new name from 1 November and has inherited assets under management of more than $587bn, offering institutional and wealth management clients a range of investment solutions. Nico Marais, former CEO of Wells Fargo AM, was originally confirmed to remain in the top role but has since retired from the position and has been replaced by Joseph Sullivan. Marais will act as a senior adviser to the company. Joseph Sullivan, executive chair and CEO of Allspring, said the firm would aim to provide "exceptional value to clients" and recognise the desire o...
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