Wells Fargo makes Brexit plans for its funds arm, following a new banking license in Paris in October

Wells Fargo will expand its asset management operations in Luxembourg and open additional offices in Paris and Frankfurt, in a further series of business moves sparked by Brexit.

A new licence for its existing Luxembourg funds business will grant the firm legal permission to manage money for institutional investors based in the EU, Wells Fargo said in a statement on December 27. Currently these clients are served from London.

Wells Fargo adds more EU offices in Brexit plans for fund management

Wells Fargo makes Brexit plans for its funds arm, following a new banking licence in Paris in October

Mark Cobley

Wells Fargo

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