Wells Fargo Corporate and Investment Banking announced the launch of its Prime Trade Services group, which, combined with the Wells Fargo Prime Services platform, will give buy-side clients outsourced and agency trading solutions.
The Prime Trade Services group will offer alternative and traditional investment managers a team of traders who will act as an extension of their clients’ investment teams, and give clients access to Wells Fargo Prime Services resources — including business consulting and capital introductions — and access to Wells Fargo’s COMPASS and SHARP technology platforms for risk management, reporting solutions and metrics.
The suite of technology and trading products available to Prime Trade Services clients include outsourced trading, technology-driven portfolio management, broad trade execution capabilities in an open trading architecture, and integrated commission management solutions.
“This is the natural progression for our platform, as we look to bring the breadth and depth of our bank to our clients, and an exciting time in our industry to further invest in these capabilities,” said Jud Howson, head of Prime Trade Services at Wells Fargo. “Our trading team averages more than 20 years of experience, and we have been together in a bicoastal, distributed structure for more than 10 years. In addition, the technical capabilities and the products and services of our world-class Prime Services platform give us a distinct advantage.”