Wells Fargo’s Abbot Downing announces new hire for Houston office

Abbot Downing has named Karl Farmer as portfolio manager. Recently, Farmer served as senior portfolio manager at BBVA Compass. He is based in Abbot Downing’s new Houston office. A subsidiary of Wells Fargo, Abbot Downing is a wealth management firm.

PRESS RELEASE

HOUSTON–(BUSINESS WIRE)–Abbot Downing has opened a new office at the Wells Fargo Plaza here, as the firm expands its staff to serve its growing Houston business. Karl Farmer, a 20-year veteran in financial services who most recently served as senior portfolio manager at BBVA Compass, has joined Abbot Downing as portfolio manager. Abbot Downing, with $35 billion in client assets and a 40-year history serving ultra-high-net-worth clients, is part of Wells Fargo’s Wealth, Brokerage and Retirement group, a leading U.S. wealth manager, with $1.4 trillion in client assets.
At BBVA Compass, Farmer designed, implemented and monitored investment solutions for high-net-worth individuals, families and foundations. He was previously a portfolio manager and equity analyst at Invesco Aim in Houston. Prior to that, he worked as an equity analyst for Greenlight Capital in New York. He began his career with William M. Mercer, Inc., as an analyst in Fort Worth. A Chartered Financial Analyst (CFA), Farmer is a graduate of the Wharton School of the University of Pennsylvania, where he earned a master’s degree in business administration, and Texas A&M University, where he earned a bachelor’s degree in economics.
He joins Abbot Downing in its new location at 1000 Louisiana St., which also houses businesses that Abbot Downing works closely with, such as Wells Fargo’s Regional Commercial Banking Office, The Private Bank, and the Energy Group of Wells Fargo Securities.
“Clients across the country have responded very favorably to Abbot Downing and we’re excited to be expanding in Texas,” said Mike Casey, Midwest regional managing director of Abbot Downing. “In our brand research, people told us they wanted an integrated offering of services combined with a high-touch client service experience. Successful individuals and families are looking for advice to help them use their wealth to positively impact their families and their communities.”
Farmer will work closely with an Abbot Downing team of professionals who provide planning and family dynamics services, asset management, private banking, trust, fiduciary and administrative services.
He is a member of the CFA Society of Houston and has served as a member of the American Academy of Actuaries. For the past six years, he and his family have been one of the top fund-raising teams in Houston for Autism Speaks.
About Abbot Downing
Abbot Downing serves clients in all 50 states through offices in San Francisco, Palo Alto, Los Angeles, Scottsdale, Denver, Houston, Minneapolis, Chicago, Philadelphia, Washington, D.C., New York, Charlotte, Winston-Salem, Raleigh, Naples, Jacksonville and Palm Beach. Abbot Downing is the world’s eighth-largest family office based on assets, according to the 2013 Bloomberg Markets survey. Wells Fargo launched the Abbot Downing brand on April 2, 2012, combining two Wells Fargo ultra-high-net-worth businesses. The original Abbot Downing built the iconic stagecoaches that have come to represent Wells Fargo.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blogs.wellsfargo.com.
Abbot Downing, a Wells Fargo business, provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries. Some alternative investments and complementary strategies may be available to pre-qualified investors only. Certain products and services offered subject to credit approval or credit qualification.