MINNEAPOLIS--(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.