Founded in Winston-Salem, N.C. as Wachovia National Bank on June 16, 1879, Wachovia grew to be one of the largest diversified financial services companies in the United States. It traded on the New York Stock Exchange under the symbol WB.Wachovia provided a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,300 retail financial centers in 21 states, along with nationwide retail brokerage, mortgage lending, and auto finance businesses. Globally, Wachovia served clients in corporate and institutional sectors and through more than 40 international offices.
Wachovia is acquired
Wachovia (former NYSE ticker symbol WB) was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo in 2008, Wachovia was the fourth-largest bank holding company in the United States based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was 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. Wachovia provided global services through more than 40 offices around the world. The purchase of Wachovia by Wells Fargo and Company was completed on December 31, 2008. Wells Fargo acquired Wachovia after a government-forced sale to avoid a failure of Wachovia.
Starting in 2009, the Wachovia brand was absorbed into the Wells Fargo brand in a process that lasted three years. On October 15, 2011, the Wachovia brand was retired when the last bank branches in North Carolina were converted to Wells Fargo.