US banking giant Wells Fargo is believed to be weighing up a number of potential takeovers in the UK asset management space, with Henderson and Jupiter on its wishlist, according to reports.
The Sunday Times reports Wells Fargo wants to gain a foothold in the City through the acquisition of a UK funds business. Henderson and Jupiter, worth £3.2bn and £2.1bn respectively, are thought to be on its shopping list, according to the paper. Wells Fargo, which is the fourth largest bank in the US by loan book, already has a strong position in the domestic retail banking market, and is now understood to be looking further afield to boost its ambitious growth plans. Chief executive John Stumpf reportedly wants to double the size of the group's funds business over the coming deca...
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