Wells Fargo says no immediate plans to buy a UK-based asset manager

By Angus Berwick

LONDON (Reuters) - Wells Fargo (WFC.N) has no immediate plans to buy an asset manager in Britain, the U.S. bank's regional president said, after a newspaper report said it was considering moves for several firms.

The Sunday Times said the fourth largest U.S. bank was considering takeovers of British fund managers including Henderson (HGGH.L) and Jupiter (JUP.L) - worth 3.3 billion pounds ($5 billion) and 2.1 billion pounds respectively - to spearhead an expansion abroad.

But Jim Johnston, president of the bank's Europe, Middle East and Africa division, told Reuters: "We don't have any immediate plans to acquire a UK-based investment firm."

Analysts said the report was believable, but doubted any takeovers were imminent.

"The asset management industry is ripe for consolidation, with a bank, insurance company and/or larger asset manager all possible acquirers," Peter Lenardos, analyst for RBC Capital Markets, said in a note.

"The weaker British pound against the U.S. dollar makes a takeover of a UK-listed asset manager particularly attractive," he added.

The report follows speculation of other deals in the British asset management sector. Aberdeen Asset Management (ADN.L) denied in October a report that said it was looking for a buyer after an extended stock price decline..

Shares in both Henderson and Jupiter hit three-month highs following the report, although they handed back some of their gains following Wells Fargo's comments.

(Reporting by Angus Berwick; Editing by Simon Jessop and Mark Potter)