Money Management

Wells Fargo strengthens multiasset solutions team with 2 hires

Peter Weidner was named head of factor solutions for the multiasset solutions team at Wells Fargo Asset Management, and Mark Brandreth was named senior portfolio manager on the team, the company announced Thursday.

The London-based positions and job responsibilities are new, said a Wells Fargo spokeswoman.

They will report to Dan Morris, global head of portfolio solutions.

Both came from Schroders, where Mr. Weidner was head of advanced beta in its multiasset investments and portfolio solutions unit, and Mr. Brandreth was head of portfolio construction and trading systems, multiasset. Mr. Morris joined Wells Fargo Asset Management in October from Schroders.

Their duties at Schroders will be assumed by other members of its multiasset team, said a company spokeswoman.

Wells Fargo Asset Management had $504 billion in assets under management as of Jan. 12, of which $32.5 billion was in multiasset strategies.