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Rating:Strong-Wells Fargo a Done Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, January 03, 2005

Strong-Wells Fargo a Done Deal

by: Theresa Sim

Wells Fargo has wrapped up its acquisition of Strong Financial, which was announced in May of 2004.

Wells Fargo will become the 20th largest fund company with the injection of $24 billion in Strong mutual fund assets. Wells Fargo will complete the merger of the former Strong funds in the second quarter of 2005.

Wells Fargo said that the former Strong portfolio managers that had joined Wells Capital Management would continue to work out of their existing locations.

Wells Fargo Capital Management also landed the management of two of Strong's 529 plans for the State of Wisconsin, the direct-sold EdVest plan and the advisors-sold Tomorrow's Scholar plan. 

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