Allspring Global Investments (Allspring) is a global asset management firm headquartered in Charlotte, North Carolina. It was previously the asset management unit of Wells Fargo until November 2021 when it commenced operations as an independent firm.
History
Allspring Global Investments was originally the asset management unit of Wells Fargo known as Wells Fargo Asset Management (WFAM) that was established in 1995.[2]
In October 2020, Wells Fargo was exploring the sale of WFAM as part of its efforts to focus more on core competencies and improve its financial performance after the Wells Fargo cross-selling scandal.[3][4] At the time, WFAM had $607 billion in assets under management as of September 30, 2020, and produced an annual revenue of $1 billion.