Wachovia

It is important to mention that the acquisition of Wachovia allowed Wells Fargo to reach more customers from the East Coast by providing a large retail banking network. As per Robert K. Steel, former President and CEO of Wachovia Corp, stated back in 2008, this agreement “creates one of the strongest financial firms in the world” and it was well received by all Wachovia stakeholders (The New York Times, 2008). WFC’s Risk Management In order to know the level of risk of an investment in WFC, it

June 16, 1879, Wachovia Bank grew quickly due largely to the accounts and success of RJ Reynolds Tobacco. RJ Reynolds, also based in Winston Salem, was one of the largest tobacco companies in the United States. Continuing on their growth, Wachovia’s first big merger was with another North Carolina based bank, First Union National Bank, on April 16, 2001. This deal made Wachovia the 4th largest bank in America. Continuing their growth through mergers and acquisitions, Wachovia completed deals

WACHOVIA In 1879, William Lemly opened Wachovia National Bank in Winston-Salem, North Carolina. It grew to become one of the largest banks in the Southeast. In 2006, Wachovia purchase Golden West Financial for approximately $25.5 billion. The purchase was finalized before Wachovia thoroughly examined Golden West's mortgage portfolio. Wachovia entered the mortgage loan market through the Golden West acquisition, and became Wachovia Mortgage. Once in the mortgage market, the number of mortgage

Wachovia Bank was founded in Winston, Salem, North Carolina. Opened by William Lemly June 16, 1879. Wachovia grew quickly due to the accounts from RJ Reynolds Tobacco which was also in Winston, Salem, North Carolina and one of the biggest tobacco companies in the U.S.A. While continuing on their growth they merged and made deals with many companies, which included Prudential, an insurance, SouthTrust Corp for $14.3 billion, a failed MBNA merger (Lost to rival Bank of America), after the loss of

Are American CEOs Paid Too Much? Are American CEO’s overpaid? In my opinion, they are. In America today, CEO’s of various companies are known for their high position and for their high salary. According to the Business Journal, the average CEO’s of an S&P 500 firm earned $2.7 million yearly in 1992. By 2000, the average pay for these CEOs increased to more than 400 percent totaling to approximately $14 million per year. When compared to average workers, the pay increase is even more dramatic

Legal and financial analysis. After Wells Fargo acquired Wachovia they added 12 different legal issues in three years to their already cumbersome legal actions. Therefore, Wells Fargo had to participate in a transitional and transformational change to help decrease the amount of unethical behavior that Wachovia and Wells Fargo had been participating in. Furthermore, during the changing process Wells Fargo leadership had to take into consideration a plethora of factors to include who needed to change

It is proper to present a business definition of merger as it found on legal reference with the ultimate goal in the pursuing of an explanation on which this paper intents to present. A merger in accordance with the textbook is legally defined as a contractual and statuary process in which the (surviving corporation) acquires all the assets and liabilities of another corporation (the merged corporation). The definition go even farther to involve and clarify about what happen to shares by explaining

There are so many areas of real-estate to invest. All you have to do is choose one. Most individuals give up on their investor ambitions well before they even get started. Investing in real-estate is not a get rich quick scheme, it is a full time job like any other adventure. Below I will explain different ways to invest and give you a brief description of each. 1. Note buying 2. Tax sales 3. Rental property Note buying has been around ever since people realized they could create an IOU for property

Wachovia As a result of Wachovia 's marketing strategies, Wachovia has been ranked number one in customer service for the past five years among banking peers. According to the Wachovia 2005 Annual Report, "driving our growth is an uncommon partnership of banking and brokerage businesses that leverage the collective wisdom of our skilled relationship managers and finical advisors to bridge a lifetime of customer needs" (Wachovia, 2006). Rolex Rolex is another

"Options are contracts that guarantee, for a fee, a worst-case exchange rate for the future purchase of one currency for another" (Wachovia). Options are different from foreign contracts in that the buyer is not obligated to deliver the currency on the settlement date unless the option is exercised. Currency swaps are a way for companies with recurring cash flows in a foreign currency