Public bank forex fdic to navigation Jump to search This article is about the financial services company. The acquisition of Wachovia by Wells Fargo was completed on December 31, 2008 after a government-forced sale to avoid Wachovia’s failure. One Wells Fargo Center, formerly One Wachovia Center. The former corporate headquarters of Wachovia in Charlotte, North Carolina.
It served 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’s private equity arm operated as Wachovia Capital Partners. Latin form of the Austrian name Wachau. First Union was founded as Union National Bank on June 2, 1908, a small banking desk in the lobby of a Charlotte hotel by H. The bank merged with First National Bank and Trust Company of Asheville, North Carolina, in 1958 to become First Union National Bank of North Carolina.
First Union Corporation was incorporated in 1967. The first Wachovia Loan And Trust Company Building, located in Winston-Salem. Wachovia Corporation began on June 16, 1879 in Winston-Salem, North Carolina as the Wachovia National Bank. The bank was co-founded by James Alexander Gray and William Lemly. 4 billion in First Union stock.
First Union offered two of its shares for each Wachovia share outstanding. The announcement was made by Wachovia chairman L. First Union chairman Ken Thompson, Chairman of First Union. This merger was viewed with great surprise by the financial press and security analysts.