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Wells Fargo Grows in Michigan, Acquires Assets of Doeren Mayhew Risk Management, LLC.

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^{Published in Business and Finance on Monday, November 24th 2008 at 11:55 GMT by Market Wire}  

CHICAGO--([ BUSINESS WIRE ])--Wells Fargo Insurance Services, Inc. – America's largest bank-owned insurance brokerage and a subsidiary of Wells Fargo & Company (NYSE:WFC) – announced today that it has acquired the assets of Troy, Michigan's Doeren Mayhew Risk Management, LLC.

Doeren Mayhew Risk Management, LLC. provides insurance and risk management services in the areas of property and casualty, worker's compensation, professional liability, disability and personal lines. Principals Thomas Welbourn and Gregory Richmond and their team will transition into the Wells Fargo Insurance Services office in Southfield, Mich. Terms of the transaction were not disclosed.

"We're delighted to expand the services and support available to Doeren Mayhew Risk Management, LLC. customers," said Bill Rothwell, head of Wells Fargo Insurance Services of Michigan. "Their firm has an outstanding reputation and will be a great addition to our growing operations locally and across the region."

"Wells Fargo is a highly respected, well run organization that lets us broaden the resources and solutions we can offer to our customers," said Thomas Welbourn of Doeren Mayhew Risk Management, LLC. "They will receive the same great service from the same committed team and will also have access to a wider range of products and services to help them succeed financially."

"We've become one of the world's largest insurance brokers by combining our national and global resources with great local agencies like Doeren Mayhew Risk Management, LLC.," said Dave Zuercher, president, chairman and CEO of Wells Fargo Insurance Services. "We'll continue to look for acquisitions like this one that will advance our mission of satisfying 100 percent of our customers' insurance and financial services needs."

Wells Fargo Insurance Services, Inc. is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with 171 offices in 37 states. Its 7,200 insurance professionals place $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. For more information about Wells Fargo Insurance Services, visit [ www.wellsfargo.com/wfis ].

Wells Fargo & Company is a diversified financial services company with $622 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."