NEW YORK--(BUSINESS WIRE)--Computershare Limited (ASX:CPU) has recently announced that it has agreed to acquire the assets of Wells Fargo Corporate Trust Services (“CTS”), subject to regulatory approvals. CTS provides a wide variety of trust and agency services in connection with debt securities issued by public and private corporations, government entities, and the banking and securities industries.
Approximately 2,000 CTS employees based across the U.S. are expected to transfer to Computershare as part of the acquisition, which is expected to close later this year.
Wells Fargo’s CTS division is annually ranked among the top service providers in most league tables by deal count and dollars serviced and has a best-in-class reputation built on its high-touch approach to client service. The team serves more than 14,000 clients and has significant market and product-level expertise that has been built over 85 years of U.S. corporate trust experience.
Computershare brings a long-term commitment to Wells Fargo’s Corporate Trust business, along with a market-leading client services approach. With many decades of experience in the industry and 2,300 clients across North America in a variety of industries, Computershare is the largest Title Custodian service provider in the Canadian Mortgage-Backed Securities industry.
Frank Madonna, Integration CEO, will lead the transition of the CTS business to Computershare. He said, “We’re excited to welcome these new employees to the Computershare family. We’re confident that as our businesses come together, our client proposition will be market-leading in North America.”
“Computershare’s similar service-oriented approach and robust product suite will benefit both our clients and employees,” said David Marks, head of Wells Fargo Commercial Capital. “Our corporate trust team will be well-positioned to continue supporting clients’ needs for specialized products and services.”
While regulatory approvals are sought, it is business as usual for both companies, and Computershare will continue to deliver the same high standard of service that our clients rightly expect.
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About Computershare
Computershare (ASX: CPU) is a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications. We also specialise in corporate trust, bankruptcy, class action and a range of other diversified financial and governance services.
Founded in 1978, Computershare is renowned for its expertise in high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement. Many of the world’s leading organisations use us to streamline and maximise the value of relationships with their investors, employees, creditors and customers.
Computershare is represented in all major financial markets and has over 12,000 employees worldwide.
For more information, visit www.computershare.com
About Wells Fargo
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo