Wells Fargo appoints SGSS in Italy as correspondent bank for Luxembourg SICAV
Wells Fargo Asset Management has appointed Societe Generale Securities Services in Italy (SGSS) to act as its correspondent bank for the distribution of the Wells Fargo (Lux) Worldwide Fund, its Luxembourg-registered SICAV, for Italian retail investors.
SGSS was selected for its expertise as a correspondent bank and its capacity to accompany Wells Fargo Asset Management in its growth strategy to develop its international offerings, specifically to facilitate the firm’s retail offering in Italy.
SGSS in Italy offers a complete range of securities services, including settlement, custody and trustee services, fund administration, middle-office services, risk and performance, liquidity management and transfer agent services.
With over USD487 billion in assets under management, Wells Fargo Asset Management has over 40 autonomous investment teams.
The Wells Fargo (Lux) Worldwide Fund was launched in 2008 and today has around USD3 billion in assets under management.
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