Wells Fargo Bank
707 Wilshire Blvd., MAC 2818-102, Los Angeles, Calif. 90017; phone: (213) 614-4826; fax: (213) 614-4363
Total global custody assets3,605
Countries serviced by network63
Countries serviced by subcustodian60
Reports available on-line:
Asset & liability
Wells Fargo Bank, as of June 30, oversaw $3.605 billion in total global custody assets. Of this, $278 million was as a subcustodian for other banks; $2.833 billion was passed to other banks for subcustody; and $515 million was held in direct custody.
Of the global custody assets overseen for U.S., institutional tax-exempt clients, $220 million was as a subcustodian for other banks; $2.428 billion was passed to others for subcustody; and $441 million was held in direct, in-house custody.
In the past 12 months, the bank gained $515 million in new global custody business from U.S. institutional tax-exempt clients.
The bank assists clients with foreign tax withholding.
Fees are calculated by market value and transactions.
Record-keeping services include fund management and record keeping.
The bank lends securities for 20 tax-exempt institutions. The minimum portfolio size of lendable assets is $25 million.
The client contact is Joel Gallant.