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Wells Fargo will sell its corporate trust business.

November 06, 1986

Bankers Trust New York plans to acquire the corporate trust and stock transfer business of Wells Fargo Bank. The transaction, involving securities with principal value of more than $8 billion, will include the business acquired by Wells Fargo in its merger with Crocker National Bank earlier this year. As part of the agreement, the 30-person staff of Wells Fargo's corporate trust and stock transfer business in San Francisco is expected to join BT Trust Co. of California, a unit of Bankers Trust.

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