Wells Fargo completed the sale of its shareowner services business to Equiniti Group.
Wells Fargo Shareowner Services provided shareowner services in the U.S., including stock transfer agent, corporate action and investment plan services. More than 400 of Wells Fargo’s employees whom were part of Shareowner Services will be transitioning to Equiniti.
“The completion of this transaction is the latest step in our ongoing efforts to sharpen our focus on the core areas of our business,” said Ed Blakey, head of Wells Fargo Commercial Capital. “I am grateful that the extremely talented group of Shareowner Services team members will join an organization that is primed for growth in the U.S.”
Equiniti is a London-based, publicly listed company and a provider of technology, administration, processing and payment services solutions.
Annual operating results for WFSS were not material to Wells Fargo.