With Merlin Securities Buy, Wells Fargo Gains Open-Architecture Prime Brokerage Offerings
Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo, has reached an agreement to acquire Merlin Securities, a San Francisco-based prime brokerage services and technology provider with around 500 clients. Sources tell Sell Side Technology that the transaction is expected to close in August of this year. Terms were not disclosed.
Merlin gives Wells Fargo its first prime brokerage business. "It's one of the areas in the capital markets business where we had a
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