Wells Fargo & Company has completed its acquisition of LaCrosse Global Fund Services, the hedge fund administration and middle-office service provider, from Cargill.
The acquisition adds to Wells Fargos Corporate Trust Services division a complete service offering to the hedge fund and alternative investments markets.
Wells Fargo will retain the LaCrosse name, global footprint and offices and operating centers in New York, Minneapolis, London, Dublin, Singapore and Jersey (Channel Islands). LaCrosse clients will be able 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.
LaCrosses platform and technology offers traditional fund administration services as well as operational support, derivatives processing, bank debt processing and cash/collateral management.
The strength of Wells Fargos market reputation and existing services combined with LaCrosses industry experience and full-service platform forms a compelling offering to the hedge fund industry, says Doc Walther, head of Structured Product Services in Wells Fargos Corporate Trust Services division. We are pleased to have completed this merger and welcome the LaCrosse team to Wells Fargo.
(CG)