Wells Fargo has named former Fortigent chief investment officer Nathan Sonnenberg as a new director of investments for its ultra-high net worth Abbot Downing unit.

Sonnenberg joined Wells Fargo on the East Coast in the mid-Atlantic region, where he will be based as a portfolio manager and head of investment
management in the region. 

He previously chaired the investment committee at Fortigent.
Prior to that, he was managing director of equity investments at Lydian Wealth
Management and a senior analyst with CMS Financial Services.

Abbot Downing could not be reached for comment by this
publication as it was out of US business hours at the time of going
to press.

"The biggest challenge is really just making sure that
clients' expectations are in line with the market that we're living
through," Sonnenberg was quoted by Reuters.

In April this year, Wells Fargo opened the Abbot Downing
business - a move involving the merge of two of its wealth management units
under a new brand. Abbot Downing serves ultra high net worth individuals and
families with at least $50 million in investable assets, and is an integration
of Wells Fargo Family Wealth and Lowry Hill.