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TheStreet Open House

Richard Colton To Lead Wells Fargo Insurance Mergers And Acquisitions Industry Practice

Wells Fargo Insurance, part of Wells Fargo & Company (NYSE: WFC), named Richard Colton head of its Mergers and Acquisitions Industry Practice. Serving middle market and large corporate customers, including private equity firms, the practice provides clients with insurance, risk, due diligence, and employee benefit services and solutions. In his role, Colton will work closely with clients pursuing opportunities with private equity-related transactions, as well as lead related sales and growth initiatives, and operations. Based in New York, he will report to Peter Gilbertson, regional managing director for Wells Fargo Insurance’s Northeast region.

“Throughout his career, Richard has been a pioneer in developing private equity-related risk and insurance solutions,” said Gilbertson. “Under his leadership, Wells Fargo Insurance will not only better serve our customers, but will be a valuable resource for other businesses throughout the company that serve the private equity industry.”

The Wells Fargo Financial Sponsors Group, part of Wells Fargo Securities, is one of the other business lines that benefits from the practice. “The credibility and leadership that Richard brings to this vital service nicely rounds out our offering of corporate and investment banking products and solutions to our private equity clients,” said Brian Van Elslander, managing director and head of Wells Fargo Financial Sponsors Group.

Colton previously served as co-founder of Aon’s mergers and acquisitions group and was also former chairman of Lockton’s mergers and acquisitions group. He received his Bachelor of Science degree from Long Island University.

About Wells Fargo Insurance

Wells Fargo Insurance 1 is the fifth largest insurance broker in the world ( Business Insurance, 2012). With 127 offices in 37 states, Wells Fargo Insurance provides solutions for a wide range of customers, including retail consumers, high net worth individuals, small businesses, as well as middle market and large corporate customers. The 7,000 insurance professionals of Wells Fargo Insurance write or place $15 billion of risk premiums annually in property, casualty, benefits, international, personal lines, and life products and also includes the nation’s largest crop insurance provider, Rural Community Insurance Services (RCIS).

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 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 9,000 stores, 12,000 ATMs, the Internet ( wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

1 Ranking includes Wells Fargo Insurance Services USA, Inc., Wells Fargo Insurance Services of West Virginia, Inc., Wells Fargo Insurance, Inc., and Rural Community Insurance Company

Copyright Business Wire 2010

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