Computershare is taking over Wells Fargo 🤩

  1. Corporate Trusts are a traditional service big banks are supposed to be doing rather than the risky shenanigans WF chose.

  2. Wells Fargo has been and apparently will continue selling off non-core business assets, e.g., asset management, corporate trust, etc. That’s different than current restrictions on Wells engaging in M&A advisory services on behalf of external client companies.

  3. No surprise general improving conditions for lending, likely higher rates, and Wells’ relatively new leadership executing on widely disclosed and broadly publicized strategic plans to divest non-core business units, including Wells’ corporate trust business, can favorably contribute to share performance.

  4. I will see if I can get more details tomorrow. They don't know much, but that is what they heard, and they said very very soon their department (maybe others) will be owned by Computershare. I'll ask tomorrow when they wake up.

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Author: admin