Wells Fargo sells corporate trust services to Computershare
By Pavithra R
Wells Fargo & Company, has announced that it has entered into a definitive agreement to sell its Corporate Trust Services (CTS) business to Computershare. The transaction is subject to customary closing conditions and is expected to close in the second half of 2021.
Wells Fargo’s CTS business provides a variety of trust and agency services relating to debt securities issued by public and private companies, government entities, and the banking and securities industries.
âThis transaction is in line with Wells Fargo’s strategy of focusing on the businesses that are at the heart of our consumer and business customers. In addition, we believe that Computershare’s similar service approach and focus on developing innovative products will be valuable to our clients and colleagues at Corporate Trust Services going forward, âsaid David Marks, Director of Wells Fargo Commercial Capital.
Computershare, with decades of experience and 2,300 clients across North America in various industries, brings a long-term commitment to the business, along with a cutting-edge customer service approach. It is also the largest provider of securities depository services to the Canadian mortgage-backed securities industry.
âWe are delighted to welcome these new employees to the Computershare family. We know they’re interested in the same things that we’re passionate about: providing great customer service, supporting diversity and inclusion efforts, and giving back to local communities. We are confident that as our businesses come together after the close, our client proposition will be second to none in North America, âsaid Madonna.
Founded in 1852, based in San Francisco Wells Fargo & Company is an American multinational financial services corporation with assets of $ 1.9 trillion. Wells Fargo Corporate & Investment Banking offers a full range of capital markets, banking and financial products and services. Its vision is to meet the financial needs of clients and help them achieve financial success.
Luminor Bank chooses FIS’s Ambit Focus to strengthen its risk management services
4 best Middle Eastern neobanks to watch out for
News IBSi Prime
The Monday Roundup: What We’re Watching This Week
- Daily insightful news analysis
- Weekly overview of offers, events and industry information
- In-depth industry analyzes of the hottest FinTech trends
- Exclusive interviews with senior executives who shape the industry
- Profiles of the industry’s most influential established and emerging companies
- Weekly Global FinTech Use Cases
- Graph of the week organized by the IBSi research team
Subscribe to Prime
FinTech IBSi Journal
- Most trusted FinTech journal since 1991
- Digital monthly number
- Over 60 pages of research, analysis, interviews, opinions and rankings
- Global coverage