Multisegment template-grown metal nanowires have become important one-dimensional materials for a variety of applications in chemistry, physics, engineering, biology, and medicine. Segmented nanowires are traditionally fabricated in anodic alumina membranes using electrodeposition, and this technique is applicable to a range of metals, alloys, and semiconductors. Here we report an alternative and simple solution chemistry strategy for incorporating multimetal components of controllable length and composition into template-grown metal nanowires. By reacting membrane-confined nanowires with metal salt solutions under reducing conditions, site-specific diffusion occurs to convert one or both nanowire tips or the entire nanowire into a variety of multimetal phases. Platinum-based intermetallic compounds were chosen as targets for demonstrating the feasibility of the on-wire conversion chemistry.