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Wachovia was a diversified financial services company based in Charlotte, North Carolina.Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. [3]
At the time, the new firm had client assets of $532.1 billion, making it the nation's third largest full service retail brokerage firm based on assets. [11] Prudential, which had been looking to sell its brokerage division, sought to use the joint venture's larger brokerage network to market its insurance products, while Wachovia sought to ...
Relationship Management Application (RMA) is a service provided by SWIFT to manage the business relationships between financial institutions. [ 1 ] RMA operates by managing which message types are permitted to be exchanged between users of a SWIFT service: [ 1 ]
Wachovia Securities grew through the mergers of multiple companies. Its oldest predecessor company, Leopold Cahn & Co. was founded in 1879. One of main Wachovia Securities' predecessor companies was founded in 1934 as the investment firm of J.C. Wheat & Co. Wheat fostered growth through mergers, including the 1971 merger with First Securities that created Wheat First Securities, Inc. and the ...
Chemical Bank New York Trust Co. JPMorgan Chase: 1975 Bank of New York: County Trust Company of White Plans, New York Bank of New York [20] BNY Mellon: 1981 First American Bank Corporation: Northern States Bancorporation: First American Bank Corporation: $30 million PNC Financial: 1983 Mellon National Corp. Girard Bank: Mellon National Bank of ...
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S.First Union also provided various other financial services, including mortgage banking, credit card, investment banking (First Union Securities), investment advisory, home equity lending, asset-based lending, leasing, insurance, international and ...
The bank was renamed in the mid-1980s after a series of mergers. After being acquired by First Union Corporation, which later also acquired Wachovia National Bank to become Wachovia Corporation, CoreStates Financial Corporation became a part of Wells Fargo in 2008 when Wachovia (formerly known as First Union) was acquired by that company.
On July 10, 2008 Robert K. Steel, the former Treasury Undersecretary and Goldman Sachs Group Inc. executive, took over as CEO of Wachovia. However, Wachovia only survived for two more months before it was forced to merge with Wells Fargo. [5] In 2009, Thompson became a principal of Aquiline Capital Partners, a New York Equity firm. [7] [4]