Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company has rebranded recently acquired Merlin Securities to Wells Fargo Prime Services.
Wells Fargo Securities purchased Merlin Securities—a San Francisco and New York based prime brokerage services and technology provider—in April this year. Terms of the agreement were not disclosed.
In addition, Merlin’s web-based suite of prime brokerage technology solutions known as MerlinPRIME, MerlinSHARP and MerlinCOMPASS have been renamed Wells Fargo PRIME, Wells Fargo SHARP and Wells Fargo COMPASS.
John Shrewsberry, head of Wells Fargo Securities, said: “Wells Fargo Prime Services fills an important niche in our product set.”
“The addition of prime services enhances our ability to meet client needs and generate earnings for our shareholders; all the while adhering to our disciplines of prudent risk management and controlled growth.”
Stephan Vermut, co-head of Wells Fargo Prime Services, said: “Our new name reinforces Wells Fargo’s commitment to providing superior prime brokerage services and industry-leading technology to the alternative investment community.”
“We look forward to continuing to provide financial and technology solutions while growing our product offerings to meet the needs of the marketplace."
