Wells Fargo & Company has agreed to acquire EverKey Global Partners, an investment boutique that offers global equity strategies to institutional clients.
EverKey was established in December 2007 by Jeff Everett, formerly president and chief investment officer of Templeton Global Advisors.
EverKey has offices in the Bahamas and New York and manages global equity strategies for institutional clients in Japan and North America.
As part of the acquisition, the investment team at EverKey will become part of Wells Capital Management, part of Wells Fargo’s Asset Management Group.
Wells Fargo executive vice president and CEO of asset management group Mike Niedermeyer said that they remain focused on broadening their investment capabilities to meet the needs of their clients.
"The addition of EverKey further enhances WellsCap’s global equity capabilities and reflects an ongoing commitment to our multi-boutique business model," added Niedermeyer.
The transaction is expected to complete by 1 January 2012.