Deals and People January 3, 2005
Wells Fargo Announces New Hires at Institutional Trust Business
January 3, 2005 (PLANSPONSOR.com) - Wells Fargo,
following the completion of the acquisition of the Strong
Financial Retirement Plan Services business, has announced
the hiring of five new personnel.
Reported by Kip McDaniel
The list of people hired by the Wells Fargo Institutional Trust Services from Strong includes:
- Matthew Tepe as a vice president and managing director. Tepe previously worked for Key Bank and Fidelity Investments, and has MBA from Xavier University of Ohio.
- Philip Wellde as a vice president and managing director. Wellde previously worked at Wachovia, and has an MBA from Marymount University.
- Thomas Nolte as a vice president and managing director. Nolte previously worked as an attorney with Reinhart Boerner Van Deuren.
- David Hill as a vice president and managing director. Hill previously worked for SEI and Diversified Investment Advisors, and holds a BS from Shippensburg University.
- Jeffrey Bear as a vice president and managing director. Bear previously worked for CIGNA and Merrill Lynch, and holds an MBA from Marquette University.
The acquisition by Wells Fargo Institutional Trust Services (See Wells Acquires Scandal-Plagued Strong Financial ) will expand the capabilities of the company by 15%, according to a press release. It currently administers almost $350 billion in assets, with more than 5,000 plans and 1.2 million participants.