Nico Marais to Lead Wells Fargo Asset Management

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Co. today announced that Nico Marais has been appointed
chief executive officer and head of Wells Fargo Asset Management (WFAM),
effective immediately.

Marais most recently was co-CEO of WFAM and previously was WFAM
president and head of Multi-Asset Solutions. He replaces Kristi Mitchem,
who left WFAM in January.

“We have an outstanding team at WFAM, and I am confident that Nico is
the right leader to take the business forward as it continues to grow
and serve as a true partner to our clients,” said Jonathan Weiss, head
of Wealth & Investment Management at Wells Fargo. “WFAM is a key part of
our overall strategy, and the business has a long track record of
delivering innovative solutions and ideas to help our clients achieve
their financial goals.”

“I am excited and honored by the opportunity to help lead WFAM into the
future,” said Marais. “The experience and talent at our firm is second
to none, and I look forward to working with all of our amazing team
members to do even more for our clients.”

Kirk Hartman, who also was co-CEO of WFAM, will work closely with Marais
in his new role. Hartman will continue to serve as chief investment
officer and add the role of president of WFAM. Hartman joined WFAM in
2002 and has been an integral part of its leadership as head of the
fixed income and equity investment teams.

WFAM oversees $476 billion in assets under management* for a broad range
of clients, including investment professionals and institutional and
individual investors. WFAM is focused on partnering with its clients to
solve their problems and help them reach their financial objectives.

Marais joined WFAM in February 2017 from Schroders, where he was head of
Multi-Asset Investments and Portfolio Solutions. Prior to Schroders,
Marais was global head of Active Portfolio Management for BlackRock’s
Multi-Asset and Client Solutions team. Previously, he held several
leadership roles with Barclays Global Investors, including global head
of Investment Strategy and head of Active Equity-Europe, and also worked
for The World Bank Group as a bond trader and for the South African
Reserve Bank as a gold trader.

Marais holds a doctorate of commerce in economics from the University of
South Africa. He earned master’s and bachelor’s degrees from
Stellenbosch University, South Africa, and an advanced diploma in
international economic policy research from the Kiel Institute for the
World Economy in Germany. He also is a Chartered Financial Analyst.®

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,700
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 32 countries and territories to
support customers who conduct business in the global economy. With
approximately 262,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. 403054
06-19

*As of March 31, 2019

Wells Fargo Asset Management (WFAM) is the trade name for certain
investment advisory/management firms owned by Wells Fargo & Company.
These firms include but are not limited to Wells Capital Management
Incorporated and Wells Fargo Funds Management, LLC. Certain products
managed by WFAM entities are distributed by Wells Fargo Funds
Distributor, LLC (a broker-dealer and Member FINRA). Associated with
WFAM is Galliard Capital Management, Inc. (an investment advisor that is
not part of the WFAM trade name/GIPS firm). www.wellsfargoassetmanagement.com

Contacts

Rob Julavits, 646-618-2790
[email protected]

Amy Hyland Jones, 704-374-2553
[email protected]

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