Wells Fargo Asset Management Luxembourg Expands License in Luxembourg to Support the European Market

Fargo & Company (NYSE: WFC)
announced today that the Commission de Surveillance du Secteur
(CSSF), the financial regulator of Luxembourg, has granted
a non-objection to the expansion of Wells Fargo Asset Management
Luxembourga??s (WFAMLa??s) existing license.

The expansion of WFAMLa??s license in Luxembourg will permit the provision
of discretionary portfolio management and investment advisory services
to Wells Fargo Asset Managementa??s (WFAMa??s) European institutional
investors. As part of WFAMa??s efforts to support its European Union
client base, WFAML will broaden its presence with branches in Frankfurt
and Paris.

"By strengthening the capabilities of WFAM in Luxembourg, along with
dedicated WFAM branches in Frankfurt and Paris, we are well positioned
to deepen relationships with our European client base, as well as with
investors based in other international markets,a?? said Deirdre Flood,
head of International Distribution for WFAM. "With the prevailing
uncertainty around Brexit, this small but meaningful change to our
current structure will ensure continued service for all of our existing
European Union clients and will facilitate the future development of
WFAM in this key market.a??

Through its existing presence in London, WFAM will continue to serve its
U.K. and international clients. WFAMa??s London-based portfolio management
teamsa??WFAM Credit Europe and WFAM Global Fixed Incomea??will continue to
maintain operations from WFAMa??s London offices.

Luxembourg is a leading asset and fund management hub within Europe.
Since 2015, WFAML has served as the management company for WFAMa??s
Luxembourg-domiciled UCITS, which launched in 2008.
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