Wells Fargo aims to be a hedge fund power


How important is institutional business to Wells Fargo? It has committed to doubling its assets under management in this area within seven years. Toward that goal, it has purchased a 35 percent stake in hedge fund firm Rock Creek Group. The bank has an option to purchase even more, enough to give it a controlling interest. This follows the move by Wells Fargo to by a prime broker Merlin Securities. Article