Any news on who is buying WFAM? And once it goes through will there be layoffs to the Wells Fargo employees who are now in asset management?
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The compliance and reporting functions are totally redundant. Massive headcount dedicated to populating RCRM templates and other red tape requirements adding no value.
How many employees roughly in WFAM?
The last leader made that LOB very fat, which is why she's gone.
IMO WFAM is plagued with what the rest of this company is. Fragmentation! WFAM is all over the place in terms of staff and locations. Any buyer would have to have consolidate it. which would probably cause a lot of the key personnel to jump ship. Which is something a purchaser would not want to have happen nor do they want to have offices in places they dont already have a presence in.
Looks like no takers so far. Maybe if we call it a “Last Chance!! Going-Out-of-Business Sale!!”
Google if you want to see news. Of course layoffs. They need to prime the business for takeover.