Wells Fargo Completes Sale of Shareowner Services Business
February 01 2018 - 2:01AM
Business Wire
Wells Fargo & Company (NYSE: WFC) announced today it has
completed the sale of its Shareowner Services business to Equiniti
Group plc.
Wells Fargo Shareowner Services (WFSS), previously a business of
Wells Fargo Bank, N.A., provided shareowner services in the U.S.,
including stock transfer agent, corporate action and investment
plan services. More than 400 of Wells Fargo’s seasoned team of
professionals who were part of Shareowner Services are
transitioning to Equiniti.
“The completion of this transaction is the latest step in our
ongoing efforts to sharpen our focus on the core areas of our
business,” said Ed Blakey, head of Wells Fargo Commercial Capital.
“I am grateful that the extremely talented group of Shareowner
Services team members will join an organization that is primed for
growth in the U.S.”
Equiniti is a London-based, publicly listed company [EQN.L] and
a leading provider of sophisticated technology, administration,
processing and payment services solutions.
Annual operating results for WFSS were not material to Wells
Fargo.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investments, mortgage, and consumer and commercial finance through
more than 8,300 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42
countries and territories to support customers who conduct business
in the global economy. With approximately 263,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 25 on Fortune’s 2017
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells Fargo
Stories.
About Equiniti
Equiniti is a specialist outsourcer delivering
technology-enabled solutions to a wide range of organizations,
including 70 percent of the companies in the FTSE 100. It is the
UK’s leading provider of share registration and associated investor
services, and also has market leading positions in the
administration of employee share plans, pension administration and
software, and employee benefit schemes. Equiniti's services, which
are delivered by over 4,300 employees, benefit 28 million people in
the UK and 120 countries around the world.
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version on businesswire.com: http://www.businesswire.com/news/home/20180131006459/en/
MediaBeth Richek,
704-374-2545Beth.Richek@wellsfargo.comorInvestorsJohn
Campbell, 415-396-0523John.M.Campbell@wellsfargo.com
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