Latest news with #WellsFargoCo
Bloomberg
02-07-2025
- Business
- Bloomberg
Wells Fargo to Ramp Up Buying CLOs After Three-Year Retreat
Wells Fargo & Co. is ramping up buying top-rated collateralized loan obligations, after largely staying away from the $1.3 trillion market following interest rate hikes in 2022, according to people with knowledge of the matter. Wells Fargo has broadly been in talks with managers to buy AAA rated CLO bonds, said the people, who asked not to be identified discussing private information. In the past few months, the bank has already bought into a handful of CLO transactions, which buy and pool buyout debt, some of the people said.
Bloomberg
29-05-2025
- Business
- Bloomberg
Wells Fargo Agrees to Sell Railcar Assets to Brookfield, GATX
Wells Fargo & Co. agreed to sell the assets of its rail equipment leasing business to a venture between Brookfield Infrastructure Partners and GATX Corp. as the bank continues to refocus on its core lending and advisory businesses. The sale includes Wells Fargo's portfolio of rail operating lease assets, which have a book value of about $4.4 billion, as well as its rail finance lease portfolio, the bank said Thursday in a statement. The deal, which isn't expected to materially impact earnings, should close by early next year, it said.
Bloomberg
29-05-2025
- Business
- Bloomberg
Wells Fargo Nears End of Scandal Era With Just Fed Cap Remaining
Wells Fargo & Co. resolved another regulatory punishment, the seventh this year, as the Office of the Comptroller of the Currency terminated its 2015 agreements relating to the company's previously held financial subsidiaries. The development represents the 13th consent order closed by banking regulators since 2019, the firm said in a statement Thursday.
