Wells Fargo Asset Management Announces New Head of Liquidity Client Group

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo Asset Management (WFAM) today announced that Yeng Felipe Butler will join the firm as head of WFAM’s Liquidity Client Group. Butler, who will be based in Boston, will report to Nico Marais, CEO of WFAM.

As head of WFAM’s Liquidity Client Group, Butler will manage WFAM’s short-duration and cash management business, which has approximately $156 billion in assets under management (AUM) and includes capabilities such as money market mutual funds and customized liquidity accounts. As the search for yield continues and clients place an increasing premium on the safety and stability of their investments, the Liquidity Client Group will play a key role in WFAM’s product lineup.

“We are thrilled to welcome Yeng to Wells Fargo Asset Management,” said Nico Marais, CEO of WFAM. “She brings a long track record of providing innovative short-term investment and cash management solutions to both intermediary and institutional clients, and I am confident that her leadership and extensive skillset will be instrumental as we continue to grow this strategic product and solutions set.”

Butler joins WFAM from State Street Global Advisors, where she most recently served as Global Head of Cash Business, overseeing a global team of 30 short-term fixed income investment sales professionals. In her nearly nine years with State Street, Butler held a number of roles, including Strategic Leader for Fiduciary Advisory Solutions and Head of U.S. Cash Business. She began her career in sales and marketing with Merrill Lynch.

Butler holds a B.A. from Dartmouth College and an M.A. in Public Administration from Harvard University’s John F. Kennedy School of Government.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets*. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,600 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

*As of June 30, 2019

Floating NAV (FNAV)

For floating NAV money market funds: You could lose money by investing in the fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Retail

For retail money market funds: You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Government

For government money market funds: You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Carefully consider a fund’s investment objectives, risks, charges, and expenses before investing. For a current prospectus and, if available, a summary prospectus, containing this and other information, visit wfam.com. Read it carefully before investing.

Wells Fargo Asset Management (WFAM) is the trade name for certain investment advisory/management firms owned by Wells Fargo & Company. These firms include but are not limited to Wells Capital Management Incorporated and Wells Fargo Funds Management, LLC. Certain products managed by WFAM entities are distributed by Wells Fargo Funds Distributor, LLC (a broker-dealer and Member FINRA). Associated with WFAM is Galliard Capital Management, Inc. (an investment advisor that is not part of the WFAM trade name/GIPS firm). www.wellsfargoassetmanagement.com

405872 09-19

Contacts

Media

Rob Julavits, 646-618-2790

robert.w.julavits@wellsfargo.com

error: Content is protected !!