Wells Fargo asset arm drafts in Peregrine

Wells Fargo Asset Management (WFAM) has handed a major brief to Peregrine Communications to assist the firm's comms and media relations across Europe and Asia.

The agency picked up the account via a six-way pitch and will look to raise WFAM's profile internationally, targeting retail, wealth management and institutional investors.

The newly created brief is thought to be the first time the firm has called in external PR advisers.

Earlier this year WFAM announced a significant strategic push into Europe and Asia to diversify from the 'maturing' US market.

Anthony Payne, CEO of Peregrine Communications, commented: 'We are very excited to have been trusted by one of the world's leading asset management brands to help strengthen awareness of its unique capabilities and strengths in Europe.'

The brief also includes raising awareness of ECM, WFAM's wholly owned fixed-income boutique that has more than US$9bn of assets under management.

Partner Paul Wynne will head Peregrine's WFAM team, while partner and CEO Anthony Payne will handle ECM.

WFAM itself has more than US$435bn in assets under management and 35 investment teams with 1,700 employees.

The asset management arm is part of San Francisco-based Wells Fargo & Company, which is the largest US banking group by market capitalisation with more than US$1.3tn in assets and operations spanning the globe.

The bank is one of the 'big four' US banking groups alongside Bank of America, Citigroup and JP Morgan Chase. Wells Fargo was founded in 1852 to provide banking services to California during the height of the westward expansion in the US.

This article was first published on prweek.com