Wells Fargo Launches Fund Services Product Line

Wells Fargo Bank announced today the launch of a new Fund Services product line within its Corporate Trust Services to address customers’ fund administration needs. Wells Fargo Fund Services provides fund administration services including a full suite of back-, middle-, and front-office products and services to private equity firms, exchange traded commodities (ETC), commodity funds, hedge funds, fund of funds and the structured finance marketplace.

Jorge Villalba, a 12-year industry veteran recently joined Wells Fargo to lead the Fund Services Group. Tom Gandolfo is head of Sales. The team is based in Columbia, MD; Houston, TX; and New York City and leverages expertise across Wells Fargo, including seasoned trust and compliance professionals. Additional hiring is anticipated by year-end.

“We're pleased to offer our hedge fund customers another option for their specific financial services needs,” said Brian Bartlett, head of Wells Fargo’s Corporate Trust Services. “Our deep experience administering fixed income and bank debt products combined with our investment in first-rate technology and talent has produced a unique and compelling suite of Fund Services that adds tremendous value to our customers.”

Fund administrators can select a custom suite of services based on their needs. Services include reconciling the fund with third parties such as prime brokers, processing portfolio transactions, calculation and reporting on net asset valuations (NAV), monthly financial statement preparation and distribution, and full investor services including maintaining the share register and investor registration details. Wells Fargo Fund Services gathers data from numerous third-party sources, consolidates the data and presents it to the fund manager in a daily, weekly or monthly report based on their needs.

Customers can obtain more information about Fund Services by visiting wellsfargo.com/fundservices or contacting Tom Gandolfo at Thomas.Gandolfo@wellsfargo.com or 212-515-5256.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.