Wells Fargo announced it had agreed to acquire all of Wachovia for $15.1 billion in stock. Wachovia preferred the Wells Fargo deal because it would be worth more than the Citigroup deal and keep all of its businesses intact.
Does Wachovia Bank still exist?
Wachovia Is Now Wells Fargo – Wells Fargo.
Did Wachovia become Wells Fargo?
Wachovia is acquired The integration of Wachovia and Wells Fargo is complete, and all Wachovia accounts have been moved to Wells Fargo.
Did Bank of America buy Wachovia?
NEW YORK (Reuters) – Bank of America Corp completed its purchase of Merrill Lynch & Co and Wells Fargo & Co finished buying Wachovia Corp, the latest sea changes in a transformed banking industry facing dire economic times ahead.
Who was the CEO of Wachovia in 2000?
Jump to navigation Jump to search. G. Kennedy “Ken”. Thompson (born November 25, 1950) is an American businessman who was previously chairman, president, and CEO of Wachovia Corporation, formerly First Union Corporation, from 2000 through 2008.
Who was the CEO of First Union when it merged with Wachovia?
Merger of First Union and Wachovia. Baker would become chairman of the merged bank, while Thompson would become president and CEO. First Union was the nominal survivor, and the merged bank was based in Charlotte and adopted First Union’s corporate structure and retained First Union’s pre-2001 stock price history.
When did fidelity become part of Wachovia Corporation?
In 1995, however, it acquired First Fidelity Bancorporation of Newark, New Jersey; at one stroke becoming a major player in the Northeast. Its Northeastern footprint grew even larger in 1998, when it acquired CoreStates Financial Corporation of Philadelphia.
When was the merger between Wachovia and Westcorp?
Westcorp, Western Financial Bank’s parent company, WFS Financial Inc. and Wachovia announced a proposed acquisition by Wachovia in September 2005. Westcorp and WFS Financial Inc. shareholders approved the acquisition on Jan. 6, 2006 and on March 1, 2006, the merger was complete.
