Wachovia Corp

Type: Public (NYSE: WB)
Founded: 1908
Headquarters: Charlotte, North Carolina
Key people: G. Kennedy Thompson, Chairman & CEO, Thomas J. Wurtz, CFO
Industry: Finance and Insurance
Products: Financial Services
Website: www.wachovia.com

General Information

Wachovia Corporation (NYSE: WB), based in Charlotte, North Carolina is one of the largest banking chains in the United States. Wachovia is a diversified financial services company that provides a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. It is one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. It also serves retail brokerage clients under the name Wachovia Securities nationwide as well as in six Latin American countries, and investment banking clients in selected industries nationwide. Wachovia provides global services through more than 40 offices around the world.

Corporate Information

Wachovia is the fifth largest bank in the United States by market capitalization. The company is divided into four divisions: General Bank, Wealth Management, Capital Management, and Corporate and Investment Banking.

The general bank services retail, small business and commercial customers. The banks is number three by national deposit market share. Wealth management serves the high net worth, personal trust, and insurance business. Wachovia is the fourth largest wealth manager in the United States. Capital management provides asset management, retirement, and retail brokerage services. Wachovia is currently the third largest full service retail brokerage. The corporate and investment bank is a fully integrated capital raising, market making, and financial advisory services bank.