Joseph Sullivan will become CEO of GTCR LLC and Reverence Capital Partners-backed acquisition of Wells Fargo Asset Management upon closing and the newly-independent firm will be renamed Allspring Global Investments. Sullivan’s CEO position is in addition to his previously announced role as executive chairman.

The rebranding will occur following GTCR’s and Reverence’s completion of the acquisition of Wells Fargo Asset Management from Wells Fargo & Co, which is expected to close sometime this fall. Sullivan was previously the CEO of Legg Mason.