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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 ...
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.
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. ...
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 ...
Here are some of the biggest bank mergers and acquisitions in American history. ... Oct. 3, 2008. Wells Fargo. Wachovia Corp. $15.1 billion. Aug. 28, 1995. Chase Manhattan Corp.
In May 2007, Wells Fargo acquired Greater Bay Bancorp, which had $7.4 billion in assets, in a $1.5 billion transaction. [4] [5] In June 2007, Wells Fargo acquired CIT's construction unit. [6] In January 2008, Wells Fargo acquired United Bancorporation of Wyoming. [7] In August 2008, Wells Fargo acquired Century Bancshares of Texas. [8]
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.