Spin Off Comes At Right Time For PE-Backed Allspring

Wells Fargo Asset Management — now Allspring Global Investments — has undergone some major changes. In November the firm spun off from former parent Wells Fargo with the help of private equity backing, changed its name and tweaked its setup. AllSpring is an independent, pure-play asset manager. For executives, the relaunch came at the right time for a broader rethink of their approach to asset management, giving them a fresh slate from which to build new strategies and new ways of tailoring portfolios for investors.