Wells Fargo Plans to Withdraw Funds from Hedge Fund

Wells Fargo & Co. (WFC) is just higher after Bloomberg reports the bank is planning to withdraw money from its hedge-fund firm, Overland Advisors, which is seeking new investors. Wells is responding to US limitations on bank risk taking. The bank will withdraw $150 million every quarter until the first half of 2014, the report said. Wells Fargo shares are up 0.24%, or $0.08, to $32.80.

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