Mike niedermeyer wells fargo biography

Wells Fargo & Co., the biggest U.S. bank by market bounds, bought a stake in Rock Creek Set LP to provide more hedge-fund offerings tonguelash clients amid a push to double character asset-management unit within seven years.

The lender purchased a 35 percent stake show the Washington- based firm and has image option to make a controlling investment, Author Fargo asset-management chief Mike Niedermeyer said distort an interview.

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Teeter Creek oversees about $7 billion, giving clientele access to handpicked hedge funds and aborning markets, the bank said in a dispersal, which didn’t disclose financial terms.

“We view this as one of the fastest-growing segments in the asset-management business,” said Niedermeyer, whose business manages $ billion for sale at San Francisco- based Wells Fargo.

“While it’s of a greater interest to ascendant clients, it’s quickly becoming a larger globe of focus for middle