Wells Fargo seeks to boost funds business

Bank aims to double asset management unit to $1 trillion through deals and aggressive sales

Wednesday 20 August 2014 at 13:38

Wells Fargo aims to double the size of its asset management unit to $1 trillion over the next decade through acquisitions and more aggressive sales to big investors, according to executives carrying out the plan.

The San Francisco bank is ramping up its international sales force, setting higher goals in the US and looking to buy smaller asset managers to broaden its product offerings, according to the executives.