Wells Fargo Asset Management Announces New Head of Liquidity Client Group
September 03 2019 - 2:00PM
Business Wire
Wells Fargo Asset Management (WFAM) today announced that Yeng
Felipe Butler will join the firm as head of WFAM’s Liquidity Client
Group. Butler, who will be based in Boston, will report to Nico
Marais, CEO of WFAM.
As head of WFAM’s Liquidity Client Group, Butler will manage
WFAM’s short-duration and cash management business, which has
approximately $156 billion in assets under management (AUM) and
includes capabilities such as money market mutual funds and
customized liquidity accounts. As the search for yield continues
and clients place an increasing premium on the safety and stability
of their investments, the Liquidity Client Group will play a key
role in WFAM’s product lineup.
“We are thrilled to welcome Yeng to Wells Fargo Asset
Management,” said Nico Marais, CEO of WFAM. “She brings a long
track record of providing innovative short-term investment and cash
management solutions to both intermediary and institutional
clients, and I am confident that her leadership and extensive
skillset will be instrumental as we continue to grow this strategic
product and solutions set.”
Butler joins WFAM from State Street Global Advisors, where she
most recently served as Global Head of Cash Business, overseeing a
global team of 30 short-term fixed income investment sales
professionals. In her nearly nine years with State Street, Butler
held a number of roles, including Strategic Leader for Fiduciary
Advisory Solutions and Head of U.S. Cash Business. She began her
career in sales and marketing with Merrill Lynch.
Butler holds a B.A. from Dartmouth College and an M.A. in Public
Administration from Harvard University’s John F. Kennedy School of
Government.
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,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,600 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 32 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. 29 on
Fortune’s 2019 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
*As of June 30, 2019
Floating NAV (FNAV)
For floating NAV money market funds: You could lose money by
investing in the fund. Because the share price of the fund will
fluctuate, when you sell your shares they may be worth more or less
than what you originally paid for them. The fund may impose a fee
upon sale of your shares or may temporarily suspend your ability to
sell shares if the fund’s liquidity falls below required minimums
because of market conditions or other factors. An investment in the
fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency. The fund’s sponsor has
no legal obligation to provide financial support to the fund, and
you should not expect that the sponsor will provide financial
support to the fund at any time.
Retail
For retail money market funds: You could lose money by investing
in the fund. Although the fund seeks to preserve the value of your
investment at $1.00 per share, it cannot guarantee it will do so.
The fund may impose a fee upon sale of your shares or may
temporarily suspend your ability to sell shares if the fund’s
liquidity falls below required minimums because of market
conditions or other factors. An investment in the fund is not
insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency. The fund’s sponsor has no legal
obligation to provide financial support to the fund, and you should
not expect that the sponsor will provide financial support to the
fund at any time.
Government
For government money market funds: You could lose money by
investing in the fund. Although the fund seeks to preserve the
value of your investment at $1.00 per share, it cannot guarantee it
will do so. An investment in the fund is not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other
government agency. The fund’s sponsor has no legal obligation to
provide financial support to the fund, and you should not expect
that the sponsor will provide financial support to the fund at any
time.
Carefully consider a fund’s investment objectives, risks,
charges, and expenses before investing. For a current prospectus
and, if available, a summary prospectus, containing this and other
information, visit wfam.com. Read it carefully before
investing.
Wells Fargo Asset Management (WFAM) is the trade name for
certain investment advisory/management firms owned by Wells Fargo
& Company. These firms include but are not limited to Wells
Capital Management Incorporated and Wells Fargo Funds Management,
LLC. Certain products managed by WFAM entities are distributed by
Wells Fargo Funds Distributor, LLC (a broker-dealer and Member
FINRA). Associated with WFAM is Galliard Capital Management, Inc.
(an investment advisor that is not part of the WFAM trade name/GIPS
firm). www.wellsfargoassetmanagement.com 405872 09-19
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version on businesswire.com: https://www.businesswire.com/news/home/20190903005780/en/
Media Rob Julavits, 646-618-2790
robert.w.julavits@wellsfargo.com
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