Wells Fargo Company (NYSE: WFC) announced that the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator of Luxembourg, has granted a non-objection to the expansion of Wells Fargo Asset Management Luxembourg’s (WFAML’s) existing license. The expansion of WFAML’s license in Luxembourg will permit the provision of discretionary portfolio management and investment advisory services to Wells Fargo Asset Management’s (WFAM’s) European institutional investors. As part of WFAM’s efforts to support its European Union client base, WFAML will broaden its presence with branches in Frankfurt and Paris.
Through its existing presence in London, WFAM will continue to serve its U.K. and international clients. WFAM’s London-based portfolio management...
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