Wells Fargo Eyes Rise in Asia Fund-Services Clients
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Wells Fargo & Co., the world’s most valuable bank, plans to expand the number of fund services clients in Asia by as much as 20 percent a year, said Christopher Kundro, co-head of the bank’s global fund services division.
The administrator of $30 billion of assets globally has 20 clients receiving its fund services in the region, New York-based Kundro said in a telephone interview. The majority of them are single-manager hedge funds, in addition to traditional, private-equity and hybrid funds, he said.