Wells Fargo said it does not have any immediate plans to acquire a wealth management business in the U.K., following media reports that it's looking at two companies.
Wells Fargo is considering an acquisition of Henderson Group and Jupiter Fund Management, both U.K. fund managers, the Sunday Times reported.
"While we are continuously looking at how we can enhance our investment capabilities and meet our clients' investment needs, we have no immediate plans to acquire a UK-based investment firm," John Roehm, a company spokesman, said in an emailed statement on Monday. He declined further comment.
John Stumpf, chairman and chief executive, has been open about his intentions to expand Wells Fargo, the Sunday Times reported, citing its Wachovia takeover following the financial crisis. Stumpf plans to double the size of Wells Fargo's funds business in the next decade.
Shares in both Henderson and Jupiter rallied, hitting three-month highs to $5 billion and $3 billion, respectively, following the Sunday report.