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Allspring Global Investments appoints Chief Legal Officer

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GTCR and Reverence Capital Partners, which agreed to acquire Wells Fargo Asset Management (WFAM) earlier this year, have announced the appointment of Kate Sandman McKinley as Chief Legal Officer of the newly independent company, Allspring Global Investments, following closing of the transaction. 

McKinley will report to Joseph A Sullivan, who will serve as Chairman and CEO of Allspring. She will join from State Street Global Advisors, where she served as General Counsel and Senior Vice President since 2019.

Sullivan says: “The appointment of Kate McKinley represents another important milestone as Allspring becomes an independent company later this year. Kate has one of the most respected legal minds in the asset management industry and will bring her vast experience, energy, and exceptional judgment to Allspring.”

McKinley has spent the last 11 years with State Street Global Advisors where she oversaw the company’s entire legal function. She previously held roles of increasing responsibility at State Street, including Managing Counsel, Senior Vice President and Deputy General Counsel, and Senior Managing Director and Chief Operating Officer of the Institutional Client Group. Prior to joining State Street, she served as Assistant General Counsel, Wealth and Investment Management at Bank of America from 2005 — 2010. McKinley began her legal career as an associate in the Investment Management Group at WilmerHale. She earned a BA in English and a JD from Boston College.

McKinley says: “I am delighted to join Allspring at this unique point in the firm’s evolution. This is an incredible platform to build from, and I look forward to the opportunity to partner with Joe and the team to write the next chapter.

On 23 February, 2021, GTCR LLC and Reverence Capital Partners, announced that they had agreed to acquire WFAM from Wells Fargo & Company (NYSE: WFC). The name change to Allspring Global Investments is expected to go into effect upon the closing date of the transaction, which is anticipated to occur in the second half of 2021, subject to customary closing conditions. Additional details related to the new independent company and its brand identity will be shared upon closing of the transaction. 
 

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