NEW YORK - Commerzbank AG's sale of Montgomery Asset Management LLC to Wells Fargo & Co. will effectively mean the end of the Montgomery brand of mutual funds.

Wells Fargo said Thursday that it had agreed to buy the majority of Montgomery's $5.8 billion of institutional and retail mutual fund assets from the German company for an undisclosed sum and that the assets will be rebranded under the Wells Fargo name.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.