SAN FRANCISCO--(BUSINESS WIRE)--

Wells Fargo Asset Management (WFAM) announced today that Fredrik Axsater, CFA, has been appointed executive vice president and head of Strategic Business Segments.

In this newly created role, Axsater will build a team focused on establishing a deeper understanding of client needs and growing three strategic business segments: Defined Contribution (DC); Environmental, Social, and Corporate Governance (ESG); and partnerships with the businesses that comprise Wells Fargo’s Wealth and Investment Management division.

Based in San Francisco, he is expected join the organization in this new role in the second quarter of this year and will report to Kristi Mitchem, chief executive officer and head of WFAM. Axsater most recently served as global head of Defined Contribution and ESG Businesses for State Street Global Advisors (SSGA).

“Our focus on these key market segments will be integral towards our goal of creating an organization that can serve our clients now and into the future,” said Mitchem. “Fredrik brings an exceptional understanding of the landscape of both the Defined Contribution and ESG market segments. His expertise, combined with our shared commitment to solving problems for clients, makes him an ideal candidate to lead this strategic expansion.”

Axsater had been with SSGA since 2011, when he began as its global head of Defined Contribution Investment strategy. Prior to SSGA, Axsater served as the head of Defined Contribution Investment Strategy and Product Management at BlackRock. Previous roles at predecessor Barclays Global Investments included chief of staff for its Global Market Strategies Group and investment strategist and portfolio manager of a long-short global market strategy in the Global Advanced Active group. He began his investment career with Barclays in 1996.

“Wells Fargo Asset Management’s priorities align well with what I believe clients will want and need in the future,” said Axsater. “I am excited for the opportunity to be at the heart of this effort. I look forward to working with others across Wells Fargo to leverage the organization’s depth of investment expertise and help clients solve the challenges and problems most important to them.”

Axsater earned a master’s degree in business administration from the University of Illinois, Urbana-Champaign and a bachelor’s degree in electrical engineering from the University of San Diego. He has earned the right to use the Chartered Financial Analyst^® (CFA^®) designation.

About Wells Fargo Asset Management

Wells Fargo Asset Management, a division of Wells Fargo Wealth and Investment Management, strives to help clients achieve their financial goals through top-tier investment options managed by specialized investment teams that are supported by independent risk management and backed by superior, collaborative service. With more than $482 billion in assets under management,* Wells Fargo Asset Management has 29 autonomous investment teams with specialized expertise and proven processes; more than 500 investment professionals; and a global reach with offices and clients around the world.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 269,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

* As of December 31, 2016

Wells Fargo Asset Management (WFAM) is a trade name used by the asset management businesses of Wells Fargo & Company. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the funds. The funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA, an affiliate of Wells Fargo & Company. Neither Wells Fargo Funds Management nor Wells Fargo Funds Distributor has fund customer accounts/assets, and neither provides investment advice/recommendations or acts as an investment advice fiduciary to any investor.

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