CHICAGO and NEW YORK, Oct. 27,
2021 /PRNewswire/ -- GTCR LLC and Reverence Capital
Partners, L.P., which agreed to acquire Wells Fargo Asset
Management (WFAM) earlier this year, today announced that
Chris Baker will become Chief
Compliance Officer of the newly independent company, Allspring
Global Investments, following close of the transaction this year.
Mr. Baker will join Allspring in January
2022 from State Street Global Advisors (SSGA) where he
serves as Chief Compliance Officer. Mr. Baker will report to
Kate McKinley, Allspring's incoming
Chief Legal Officer, as well as to the Allspring Funds Board of
Trustees.
Joseph A. Sullivan, the incoming
Chairman and CEO of Allspring, said, "Chris brings a wealth of
compliance experience to our organization. His partnership with our
new Chief Legal Officer, Kate
McKinley, will foster close collaboration between the two
critical functions of Legal and Compliance, ensuring an integrated
response and support model for all of our key stakeholders
including clients, regulators, business leaders, and our
Board."
Mr. Baker has 22 years of experience as a Compliance
professional in the finance industry with 19 years focused in asset
management. At SSGA, he manages a compliance program that adheres
to global regulations and supports all company functions, including
sales, product, broker-dealer and investments. In his role as Chief
Compliance Officer, Mr. Baker is responsible for maintaining a
comprehensive regulatory inventory, performing periodic risk
assessments, conducting risk-based monitoring, and producing
compliance reporting to relevant committees, boards, and senior
management. Mr. Baker has a BA from Franklin
& Marshall College and an MBA in Finance from Boston
University.
On February 23, 2021, GTCR LLC and
Reverence Capital Partners, L.P. announced that they had agreed to
acquire WFAM from Wells Fargo & Company (NYSE: WFC). The name
change to Allspring Global Investments will go into effect upon the
closing of the transaction, anticipated to take place in the short
term, subject to customary closing conditions.
About WFAM
WFAM is a leading asset management firm
with $587 billion in assets under
management,1 24 offices globally, and specialized
investment teams supported by more than 480 investment
professionals. WFAM and its investment teams provide a broad range
of differentiated investment products and solutions to help its
diverse range of clients meet their investment objectives. For more
information, please visit www.wfam.com.
1.
|
As of September 30,
2021. AUM includes $92 billion from Galliard Capital Management, an
investment advisor that is not part of the WFAM trade name/GIPS
firm.
|
About GTCR
Founded in 1980, GTCR is a leading private
equity firm focused on investing in growth companies in the
Healthcare, Financial Services & Technology, Technology, Media
& Telecommunications, and Growth Business Services industries.
The Chicago-based firm pioneered
The Leaders Strategy™ — finding and partnering with management
leaders in core domains to identify, acquire and build
market-leading companies through transformational acquisitions and
organic growth. Since its inception, GTCR has invested more than
$20 billion in over 250
companies. For more information, please
visit www.gtcr.com.
About Reverence Capital Partners
Reverence Capital
Partners is a private investment firm focused on thematic investing
in leading global, middle-market Financial Services businesses
through control and influence oriented investments in 5 sectors:
(1) Depositories and Finance Companies, (2) Asset and Wealth
Management, (3) Insurance, (4) Capital Markets and (5) Financial
Technology/Payments. The firm was founded in 2013 by Milton Berlinski, Peter
Aberg and Alex Chulack, who
collectively bring over 90 years of advisory and investing
experience across a wide range of financial services sectors. For
more information, please visit www.reverencecapital.com.
Media Inquiries
Jeffrey Taufield
jeffrey.taufield@kekstcnc.com
212-521-4815
Nathan Riggs
nathan.riggs@kekstcnc.com
212-521-4804
Wells Fargo Asset Management (WFAM) is the trade name for
certain investment advisory/management firms owned by Wells Fargo
& Company. These firms include but are not limited to Wells
Capital Management, LLC, and Wells Fargo Funds Management, LLC.
Certain products managed by WFAM entities are distributed by Wells
Fargo Funds Distributor, LLC (a broker-dealer and Member
FINRA/SIPC). Associated with WFAM is Galliard Capital Management,
LLC (an investment advisor that is not part of the WFAM trade
name/GIPS firm).
INVESTMENT PRODUCTS: NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
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SOURCE GTCR LLC and Reverence Capital Partners, L.P.