NEW YORK - December 3, 2012
Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company (NYSE: WFC), today announced the name change and rebranding of Merlin Securities, LLC to Wells Fargo Prime Services, LLC. Additionally, its web-based suite of prime brokerage technology solutions known as MerlinPRIME, MerlinSHARP and Merlin COMPASS have been renamed Wells Fargo PRIMESM, Wells Fargo SHARPSM and Wells Fargo COMPASSSM, respectively.
“Wells Fargo Prime Services fills an important niche in our product set,” said John Shrewsberry, head of Wells Fargo Securities. “The addition of prime services enhances our ability to meet client needs and generate earnings for our shareholders; all while adhering to our disciplines of prudent risk management and controlled growth.”
“Our new name reinforces Wells Fargo’s commitment to providing superior prime brokerage services and industry-leading technology to the alternative investment community,” said Stephan Vermut, co-head of Wells Fargo Prime Services. “We look forward to continuing to provide financial and technology solutions while growing our product offerings to meet the needs of the marketplace."
Wells Fargo Prime Services is a premier technology solutions and prime brokerage services provider offering integrated solutions to the alternative investment industry. The business serves more than 500 single- and multi-primed managers, providing them with a broad suite of solutions including dynamic performance reporting, attribution analytics, real time P&L analytics and seamless multi-custody services, capital development and 24-hour international trading. Wells Fargo Prime Services has offices in New York, San Francisco, Boston, Chicago, San Diego and Toronto.
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital markets products and services to customers, including originating and distributing public debt and equity, hedging interest rates, commodity and equity risks, advising on mergers and acquisitions, and originating structured lending facilities and municipal bonds. The institutional capital markets business is comprised of more than 3500 team members in 40+ offices across the United States, Europe and Asia.
Wells Fargo Securities is the trade name for certain capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, a member of NYSE, FINRA, NFA and SIPC, Wells Fargo Institutional Securities, LLC, a member of FINRA and SIPC, Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC and Wells Fargo Bank, National Association, Wells Fargo Securities International Limited (authorized by the U.K. FSA), Wells Fargo Securities Asia Limited (licensed by the HK SFC), and Wells Fargo Securities (Japan) Co., Ltd. (registered with the KLFB).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.