Yeng Felipe Butler was named head of the liquidity client group at Wells Fargo Asset Management, spokesman Robert Julavits confirmed in an email.
The position is new. Ms. Butler will manage WFAM's short-duration and cash management business, which has $156 billion in assets under management and includes money market mutual funds and customized liquidity accounts. She will be based in Boston and report to CEO Nico Marais.
Ms. Butler was senior managing director and global head of cash business at State Street Global Advisors. SSGA is planning to hire a replacement, spokeswoman Olivia Offner said.
WFAM had $476 billion in AUM as of March 31.
