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The cards, which would have still been branded as Wachovia, would have been issued through Bank One's First USA division. First Union had sold its credit card portfolio to MBNA in August 2000. [24] After entering into negotiations, the new Wachovia agreed to buy back its portfolio from Bank One in September 2001 and resell it to MBNA.
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.
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 ...
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 ...
The late 1990s proved to be one of the most important times in SouthTrust's 118-year history. The bank had become one of the largest banks in the south. Birmingham had grown into the largest banking city in the south based on the number of top 50 US banks headquartered there, although not the largest by assets.
Wells Fargo Securities was established in 2009 to house Wells Fargo's new capital markets group, which it obtained during the Wachovia acquisition. Prior to that point, Wells Fargo had little to no participation in investment banking activities, though Wachovia had a well-established investment banking practice which operated under the Wachovia ...
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Keefe, Bruyette & Woods, Inc., a Stifel Company, is an investment banking firm headquartered in New York City, specializing exclusively in the financial services sector.. KBW's primary business lines include research, corporate finance, equity sales and trading, equity capital markets, debt capital markets, and asset managem