Wells Fargo To Sell Corporate Trust Unit To Computershare In $750M Deal

Wells Fargo agrees to sell its Corporate Trust Services business to Australian investment services provider Computershare for $750M.
The corporate trust business provides trust and agency services in connection with public and private debt securities.
Wells Fargo says the deal is consistent with its “strategy of focusing on businesses that are core to our consumer and corporate clients.”
Wells CEO Charlie Scharf, who is selling non-essential businesses to improve profitability after years of scandals, said earlier this month that he expects to see the U.S. economy come back strong in H2 2021.

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