The potential deal would illustrate how Scharf is looking at drastic moves, beyond cost cuts, as he seeks to turn Wells Fargo around following a years-old sales practices scandal. Wells Fargo's asset management arm, which managed $578 billion on behalf of customers as of the end of June, could fetch more than $3 billion in a sale, two of the sources said. The San Francisco-based bank has discussed a potential deal with asset management companies and private equity firms, according to the sources, who cautioned that a divestment is not certain and asked not to be identified because the matter is confidential.
The glitzy emirate of Dubai broke the record for the world's largest fountain on Thursday, as the Gulf city seeks to boost its hard-hit tourism sector amid the coronavirus pandemic.
Australian paces Ineos teammate Geoghegan Hart to second place on stage 18 and into third place overall