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On October 9, 2008, Citigroup abandoned its attempt to purchase Wachovia's banking assets, allowing the Wachovia-Wells Fargo merger to go through. However, Citigroup pursued $60 billion in claims, $20 billion in compensatory and $40 billion in punitive damages, against Wachovia and Wells Fargo for alleged violations of the exclusivity agreement ...
2008 [2] Wells Fargo: Wachovia: Wells Fargo: $15.1 Billion [40] Wells Fargo: 2008 JPMorgan Chase: Washington Mutual: JPMorgan Chase: $1.9 Billion [41] JPMorgan Chase & Co. 2008 Fifth Third Bank: First Charter Bank: Fifth Third Bank: $1.1 billion [42] Fifth Third Bank: 2008 PNC Financial Services: National City Corp. PNC Financial Services: $5. ...
Wachovia Securities was the trade name of Wachovia's retail brokerage and institutional capital markets and investment banking subsidiaries. Following Wachovia's merger with Wells Fargo and Company on December 31, 2008, the retail brokerage became Wells Fargo Advisors on May 1, 2009 and the institutional capital markets and investment banking group became Wells Fargo Securities on July 6, 2009.
When Wells Fargo (WFC) dived in and broke up a government-backed bid by Citigroup (C) for teetering Wachovia last fall, it seemed like a logical move. Buying Wachovia would give Wells a coast-to ...
In a Wells Fargo-Wachovia blog post, company social media program manager Doug. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ...
September 30, 2008: Dexia: The Belgian, French and Luxembourg governments Public finance and retail [29] October 3, 2008: Wachovia, Charlotte, North Carolina: Wells Fargo, San Francisco, California: Retail and investment banking $ 1.5 × 10 ^ 10 [30] October 7, 2008: Landsbanki: Icelandic Financial Supervisory Authority: Commercial bank [31 ...
Date. Acquiring bank. Acquired bank. Purchase price. Sept. 30, 1998. Bank of America. NationsBank. $62 billion. July 1, 2004. J.P. Morgan Chase. Bank One. $58 billion
The crash of subprime mortgages, which made up most of World Savings' nearly $200 billion mortgage portfolio, put significant strain on Wachovia and eventually caused its collapse. On July 1, 2009, Wachovia Securities was renamed Wells Fargo Advisors and Wells Fargo Investments, which included the former A.G. Edwards business lines.