NEW YORK – Wells Fargo has announced it is rebranding its Abbot Downing business to move under the Wells Fargo Private Bank brand. This business, which serves ultra-high-net-worth individuals, families, foundations, and endowments, continues to be part of the Wealth & Investment Management (WIM) division.
The Abbot Downing brand was introduced 10 years ago following the merging of two legacy family office businesses. Named after the company that meticulously crafted stagecoaches in the 19th century, the business has flourished under a similar commitment to providing the utmost care and high standard of service to its clients.
“The name may change but our commitment to the business, our clients, and our advisors serving these clients is steadfast, said Barry Sommers, CEO of WIM. This business is an important part of WIM with significant potential for growth, and we will continue to serve the specialized needs of our ultra-high-net-worth clients in the manner they have come to expect,” he said.
By joining its Abbot Downing business more formally with the company’s existing Wells Fargo Private Bank brand, the business is working to unify the WIM business to better serve all its clients, and contribute to the larger transformation happening across Wells Fargo.
Investment and Insurance Products are:
- Not Insured by the FDIC or Any Federal Government Agency
- Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
- Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
About Wells Fargo Wealth & Investment Management
Wells Fargo Wealth & Investment Management (WIM) is a division within Wells Fargo & Company. WIM provides financial products and services through various bank and brokerage affiliates of Wells Fargo & Company and is one of the largest wealth managers in the U.S., with nearly $2 trillion in client assets. WIM serves clients through the following businesses: Wells Fargo Private Bank serves high-net-worth individuals and families; Abbot Downing serves ultra-high-net-worth individuals and families; Wells Fargo Advisors provides advice and guidance to help clients maximize all aspects of their financial lives; and Wells Fargo Asset Management brings together a strategic balance of investment capabilities to serve the investment needs of institutions, financial advisors, and individuals worldwide. Through Wells Fargo Private Bank and Abbot Downing, WIM is also a leading provider of trust, investment, and fiduciary services, including personal trust services and a number of specialized wealth services designed to meet the diverse needs of high-net-worth clients.
About Wells Fargo
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.
Contact Information
Media
Kathleen Leary, 415-269-6486
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