US giant expanding wealth management to Asia

Wells Fargo Bank has, um, Wells Fargo-sized ambitions for its Asian asset management business. The US banking giant has a market cap of $82 billion, making it the third-largest financial institution in the US and number four in the world. It is a huge money manager back home, with a $114 billion global institutional business, assets of over $140 billion in its private banking business, and another $95 billion under management in its US mutual funds operation.