Wells Fargo (WFC) is relocating its wealth-management unit headquarters to West Palm Beach, Florida, Bloomberg reported Tuesday, citing wealth chief Barry Sommers.
Wells Fargo signed a lease with Related Cos. to rent 50,000 square feet of office space at the One Flagler building, Sommers said, according to Bloomberg.
The new office is expected to open in August, and around 100 employees will relocate there by year-end, according to the report.
Wells Fargo did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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