Wells Fargo to Purchase Investment Firm

Consumer banking

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Wells Fargo & Co. has signed a deal to acquire the investment boutique, EverKey Global Partners.

Wells Fargo said on Thursday that EverKey, with offices in New York and the Bahamas, is to remain independent with no change to structure or location, operating as a unit of Wells Capital Management. Wells Capital Management is part of the company's asset-management group.

The financial terms of the deal, expected to close Jan. 1, were not disclosed.

EverKey has 11 employees and provides equity strategies to institutional clients in Japan and North America. The firm was founded in 2007 by Jeff Everett, the former president and chief investment officer of Templeton Global Advisors Limited.

Jackie Stewart

Executive Editor, American Banker Magazine

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