2 Potential Suitors for Wells Fargo's Asset Management Business
Numerous media outlets have reported that Wells Fargo (NYSE: WFC) is contemplating a sale of its asset management division, which could fetch as much as $3 billion. The rumors, which came from anonymous sources, would fall in line with CEO Charlie Scharf's statements on the bank's most recent earnings call that it may look to exit some business segments in order to refine its focus and significantly cut expenses. Here are two potential acquirers.
Image source: Wells Fargo.
Rumors were swirling earlier this year that Goldman Sachs might swallow Wells Fargo whole. While I can't speak to those, I could certainly see Goldman being interested in Wells Fargo's asset management division.
Source Fool.com
