Wells Fargo & Company (WFC) has renamed its hedge fund administration and middle-office service provider, LaCrosse Global Fund Services (LaCrosse) as Wells Fargo Global Fund Services.
The re-branded company will continue to provide a full suite of services pertaining to the hedge fund administration market employing a platform and technology that offers traditional fund administration services, operational support, derivatives processing, bank debt processing and cash/collateral management, the US wealth manager said.
Wells Fargo Global Fund Services co-head Christopher Kundro said the new name reflects Wells Fargo’s commitment to support its suite of hedge fund and private equity industry offerings.
"In addition, our clients are now able to leverage Wells Fargo’s many other offerings for alternative investment managers," Kundro added.
Wells Fargo manages over $25bn in alternative fund assets, covering a wide range of strategies traded by global portfolio managers including fixed income, credit, distressed, structured credit, macro, equity, commodities, private equity and real estate.
Founded in 1852 and headquartered in San Francisco, Wells Fargo & Company has $1.3 trillion in assets and offers banking, insurance, investments, mortgage, and consumer and commercial finance services globally.