Wells Fargo Securities is rebranding Merlin Securities, the prime brokerage business it acquired in April this year, to Wells Fargo Prime Services.
Additionally, legacy Merlins Web-based suite of prime brokerage technology solutions MerlinPRIME, MerlinSHARP and Merlin COMPASS have been renamed Wells Fargo PRIME, Wells Fargo SHARP and Wells Fargo COMPASS.
“Wells Fargo Prime Services fills an important niche in our product set,” says John Shrewsberry, head of Wells Fargo Securities. “The addition of prime services enhances our ability to meet client needs and generate earnings for our shareholders; all while adhering to our disciplines of prudent risk management and controlled growth.”
Wells Fargo Prime Services has more than 500 single- and multi-primed manager clients. The business provides dynamic performance reporting, attribution analytics, real-time P&L analytics and seamless multi-custody services, capital development and 24-hour international trading from offices in New York, San Francisco, Boston, Chicago, San Diego and Toronto.
“Our new name reinforces Wells Fargo’s commitment to providing superior prime brokerage services and industry-leading technology to the alternative investment community,” says Stephan Vermut, co-head of Wells Fargo Prime Services. “We look forward to continuing to provide financial and technology solutions while growing our product offerings to meet the needs of the marketplace.”
Merlin Securities received a number of top ratings in the 2011 Global Custodian Prime Brokerage Survey, the most recent survey in which the prime broker was rated.
(CG)