Reverence Capital will again seek to reverse fortune of deadwood wealth division after $2.1B purchase of Wells Fargo Asset Management following buys of Voya's old annuity farm and AIG's old salesforce
The New York City private equity firm keeps fearlessly buying and rebranding rusty pieces of the commission brokerage, commission-product ecosystem.
Author Lisa Shidler
March 27, 2021 at 2:25 AM
In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament
The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?