Allspring Global Investments has named Chris Baker as chief compliance officer. His appointment becomes effective in January 2022. Baker will join Allspring from State Street Global Advisors where he serves as chief compliance officer.
CHICAGO and NEW YORK, Oct. 27, 2021 /PRNewswire/ — GTCR LLC and Reverence Capital Partners, L.P., which agreed to acquire Wells Fargo Asset Management (WFAM) earlier this year, today announced that Chris Baker will become Chief Compliance Officer of the newly independent company, Allspring Global Investments, following close of the transaction this year. Mr. Baker will join Allspring in January 2022 from State Street Global Advisors (SSGA) where he serves as Chief Compliance Officer. Mr. Baker will report to Kate McKinley, Allspring’s incoming Chief Legal Officer, as well as to the Allspring Funds Board of Trustees.
Joseph A. Sullivan, the incoming Chairman and CEO of Allspring, said, “Chris brings a wealth of compliance experience to our organization. His partnership with our new Chief Legal Officer, Kate McKinley, will foster close collaboration between the two critical functions of Legal and Compliance, ensuring an integrated response and support model for all of our key stakeholders including clients, regulators, business leaders, and our Board.”
Mr. Baker has 22 years of experience as a Compliance professional in the finance industry with 19 years focused in asset management. At SSGA, he manages a compliance program that adheres to global regulations and supports all company functions, including sales, product, broker-dealer and investments. In his role as Chief Compliance Officer, Mr. Baker is responsible for maintaining a comprehensive regulatory inventory, performing periodic risk assessments, conducting risk-based monitoring, and producing compliance reporting to relevant committees, boards, and senior management. Mr. Baker has a BA from Franklin & Marshall College and an MBA in Finance from Boston University.
On February 23, 2021, GTCR LLC and Reverence Capital Partners, L.P. announced that they had agreed to acquire WFAM from Wells Fargo & Company (NYSE: WFC). The name change to Allspring Global Investments will go into effect upon the closing of the transaction, anticipated to take place in the short term, subject to customary closing conditions.
WFAM is a leading asset management firm with $587 billion in assets under management,1 24 offices globally, and specialized investment teams supported by more than 480 investment professionals. WFAM and its investment teams provide a broad range of differentiated investment products and solutions to help its diverse range of clients meet their investment objectives. For more information, please visit www.wfam.com.
1. As of September 30, 2021. AUM includes $92 billion from Galliard Capital Management, an investment advisor that is not part of the WFAM trade name/GIPS firm.