Wachovia Corp Company Description
Wachovia is cooking up a stir-fry of financial services. The company is a distant fourth behind US banking heavyweights Citigroup, Bank of America, and JPMorgan Chase. It has some 3,400 branches in around 20 eastern and southern states, as well as Arizona, California, Colorado, Nevada, and Texas. Retail brokerage Wachovia Securities, of which Wachovia owns 62% (Prudential Financial owns the rest), has more than 3,700 offices across the US and more than $1.2 trillion in assets under management. Subsidiary Evergreen Investment Management offers mutual funds. Its other business segments include capital and wealth management and corporate banking.
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The Company Description provides a historical perspective of Wachovia Corp's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Wachovia Corp's evolution in the marketplace.
