Content provided in partnership with
WellsFargo sells remittance processing sites to Regulus Group
Today, Jun 2000
WellsFargo (www.wellsfargo.com) is selling its 11 remaining remittance processing sites to Regulus (610-949-7175/www.regulusgroup.com) for an undisclosed sum. This culminates an alliance the two began four years ago with the sale of WellsFargo's other remittance processing sites.
Regulus will assume responsibility for the facilities, including approximately 450 employees. Adding the 11 sites gives Regulus a total of 30 lockbox and distribution centers nationwide.
"Over the past 4 years, our alliance with Regulus has proven that partnering can allow us to take advantage of the best technology and reduce costs while maintaining world class customer service," said Paul Watson, head of WellsFargo's commercial banking unit.
- Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »
Still, Watson said it would be difficult to part with what he described as, "loyal and committed" team members. "We would not do so if we did not believe that Regulus shares our commitment to people as a competitive advantage," he said.
The companies will continue to provide services under the name of Wells Payment Express. The 11 remittance processing sites involved are: Albuquerque, Dallas, Davenport, Denver, Des Moines, Fort Wayne, Milwaukee, Minneapolis, Omaha, Phoenix and Sioux Falls.
Copyright Association for Work Process Improvement Jun 2000
Provided by ProQuest Information and Learning Company. All rights Reserved
Find Research Guides for:
Find Featured Titles for: Arts
Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »