Tuesday, 9 February 2016
Last updated 6 min ago
Dec 1 2011 | 10:55am ET
Wells Fargo & Company has completed its acquisition of hedge fund administrator LaCrosse Global Fund Services from Cargill.
LaCrosse’s platform and technology offers traditional fund administration services as well as operational support, derivatives processing, bank debt processing and cash/collateral management.
Wells Fargo will continue to use the LaCrosse name for the administrator and to maintain its operating centers and offices in New York, Minneapolis, London, Dublin, Singapore and Jersey. The deal allows LaCrosse clients to make use of the full range of services offered by Wells Fargo, including custody, cash management, trust, paying agent and other related banking services.
“The strength of Wells Fargo’s market reputation and existing services combined with LaCrosse’s industry experience and full-service platform forms a compelling offering to the hedge fund industry,” said Doc Walther, head of structured product services in Wells Fargo’s Corporate Trust Services division. “We are pleased to have completed this merger and welcome the LaCrosse team to Wells Fargo.”
Wells Fargo & Company is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets.