US based Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company, has rebranded Merlin Securities as Prime Services.
The company has also renamed its web-based suite of prime brokerage technology as Wells Fargo PRIME, SHARP and COMPASS, respectively.
Wells Fargo Prime Services serves over 500 single- and multi-primed managers, and offers performance reporting, attribution analytics, real time P&L analytics and multi-custody and capital development services.
Wells Fargo Securities head John Shrewsberry said, "The addition of prime services enhances our ability to meet client needs and generate earnings for our shareholders; all while adhering to our disciplines of prudent risk management and controlled growth."
Formed in 1852, US based diversified financial firm Wells Fargo & Company manages $1.4 trillion in assets, and delivers banking, insurance, investments, mortgage, and consumer and commercial finance through over 9,000 stores, 12,000 ATMs and online.