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 that
Kate Sandman McKinley will become
Chief Legal Officer of the newly independent company, Allspring
Global Investments, following closing of the transaction. Ms.
McKinley will report to Joseph A.
Sullivan, who will serve as Chairman and CEO of Allspring.
She will join from State Street Global Advisors, where she served
as General Counsel and Senior Vice President since 2019.
Mr. Sullivan said, "The appointment of Kate McKinley represents another important
milestone as Allspring becomes an independent company later this
year. Kate has one of the most respected legal minds in the asset
management industry and will bring her vast experience, energy, and
exceptional judgment to Allspring."
Ms. McKinley has spent the last 11 years with State Street
Global Advisors where she oversaw the company's entire legal
function. She previously held roles of increasing responsibility at
State Street, including Managing Counsel, Senior Vice President and
Deputy General Counsel, and Senior Managing Director and Chief
Operating Officer of the Institutional Client Group. Prior to
joining State Street, she served as Assistant General Counsel,
Wealth and Investment Management at Bank of America from 2005 -
2010. Ms. McKinley began her legal career as an associate in the
Investment Management Group at WilmerHale. She earned a B.A. in
English and a J.D. from Boston
College.
Ms. McKinley said, "I am delighted to join Allspring at this
unique point in the firm's evolution. This is an incredible
platform to build from, and I look forward to the opportunity to
partner with Joe and the team to write the next chapter."
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). 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
customary closing conditions. Additional details related to the new
independent company and its brand identity will be shared upon
closing of the transaction. For access to the press release, please
visit www.allspringglobal.com.
About WFAM
WFAM is a leading asset management firm
with $604 billion in assets under
management,1 24 offices globally, and specialized
investment teams supported by more than 480 investment
professionals. WFAM and its investment teams provide a broad range
of differentiated investment products and solutions to help its
diverse range of clients meet their investment objectives. For more
information, please visit www.wfam.com.
- As of June 30, 2021. AUM includes
$92 billion from Galliard Capital
Management, an investment advisor that is not part of the WFAM
trade name/GIPS firm.
About GTCR
Founded in 1980, GTCR is a leading private
equity firm focused on investing in growth companies in the
Healthcare, Financial Services & Technology, Technology, Media
& Telecommunications, and Growth Business Services industries.
The Chicago-based firm pioneered
The Leaders Strategy™ — finding and partnering with management
leaders in core domains to identify, acquire and build
market-leading companies through transformational acquisitions and
organic growth. Since its inception, GTCR has invested more than
$20 billion in over 250
companies. For more information, please
visit www.gtcr.com.
About Reverence Capital Partners
Reverence Capital
Partners is a private investment firm focused on thematic investing
in leading global, middle-market Financial Services businesses
through control and influence oriented investments in 5 sectors:
(1) Depositories and Finance Companies, (2) Asset and Wealth
Management, (3) Insurance, (4) Capital Markets and (5) Financial
Technology/Payments. The firm was founded in 2013 by Milton Berlinski, Peter
Aberg and Alex Chulack, who
collectively bring over 90 years of advisory and investing
experience across a wide range of financial services sectors. For
more information, please visit www.reverencecapital.com.
Media Inquiries
Nathan Riggs
nathan.riggs@kekstcnc.com
212-521-4804
Jeffrey Taufield
jeffrey.taufield@kekstcnc.com
212-521-4815
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SOURCE GTCR LLC and Reverence Capital Partners, L.P.