Principal Financial $1.2 billion acquisition of Wells Fargo's Institutional & Retirement Trust business

9/4/2019
Asset acquisition

$ 1.2 billion

Announced

9/4/2019


Overview:

  • Principal Financial has acquired Wells Fargo's Institutional & Retirement Trust business in a $1.2 billion deal. 
  • Lazard acted as financial adviser for Principal. 
  • The transaction is expected to close in the third quarter of 2019. 

Kurt Stumpo - US Editor

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