The potential deal would illustrate how Scharf is looking at drastic moves, beyond cost cuts, as he seeks to turn Wells Fargo around following a years-old sales practices scandal. Wells Fargo's asset management arm, which managed $578 billion on behalf of customers as of the end of June, could fetch more than $3 billion in a sale, two of the sources said. The San Francisco-based bank has discussed a potential deal with asset management companies and private equity firms, according to the sources, who cautioned that a divestment is not certain and asked not to be identified because the matter is confidential.
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2020/10/22
finance.yahoo.com/news
