Wells Fargo to acquire Merlin Securities
27 April 2012 New York
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Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo, has reached an agreement to acquire Merlin Securities, a San Francisco and New York-based prime brokerage services and technology provider.
Merlin offers integrated solutions with its MerlinPrime and MerlinSHARP products, providing open architecture technology, custody and clearing services, operational support, and securities trading to clients in the asset management industry.
Head of Wells Fargo Securities John Shrewsberry said: “This is a logical extension of our offering to the investment industry, which is increasingly focused on tools to enhance risk management and improve capital efficiency. In addition, it provides new cross-sell opportunities for existing customers of both Wells Fargo and Merlin.”
As part of the transaction, Merlin’s team members will join Wells Fargo Securities. Managing partners Stephan Vermut and Aaron Vermut will continue to lead the Prime Services Offering.
“With the acquisition of Merlin, we are gaining highly scalable, broker neutral technology with multi-asset and multi-custodian capabilities,” said Chris Bartlett, head of Equity Sales and Trading at Wells Fargo Securities.
“Merlin’s open architecture platform enables clients to choose the custodian and trading platform that is right for their business. Their team members have extensive experience in this industry and we look forward to adding their expertise to our platform.”
Terms of the agreement were not disclosed.
Merlin offers integrated solutions with its MerlinPrime and MerlinSHARP products, providing open architecture technology, custody and clearing services, operational support, and securities trading to clients in the asset management industry.
Head of Wells Fargo Securities John Shrewsberry said: “This is a logical extension of our offering to the investment industry, which is increasingly focused on tools to enhance risk management and improve capital efficiency. In addition, it provides new cross-sell opportunities for existing customers of both Wells Fargo and Merlin.”
As part of the transaction, Merlin’s team members will join Wells Fargo Securities. Managing partners Stephan Vermut and Aaron Vermut will continue to lead the Prime Services Offering.
“With the acquisition of Merlin, we are gaining highly scalable, broker neutral technology with multi-asset and multi-custodian capabilities,” said Chris Bartlett, head of Equity Sales and Trading at Wells Fargo Securities.
“Merlin’s open architecture platform enables clients to choose the custodian and trading platform that is right for their business. Their team members have extensive experience in this industry and we look forward to adding their expertise to our platform.”
Terms of the agreement were not disclosed.
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