Wachovia, Wells Fargo Deal Moves Forward

  Now that Citi is out of the picture, the Wachovia/Wells Fargo merger is moving forward. The Federal Reserve approved the merger last weekend.

  Wells Fargo’s CEO met with Charlotte leaders and Wachovia employees earlier this week but still no specifics on what changes are ahead for Wachovia employees or for Charlotte NC for that matter.

  So with a Wells Fargo/Wachovia deal, Wells is now positioned to become one of the largest banks in the country along with Bank of America (headquartered here in Charlotte NC) and JP Morgan Chase.

  While there’s still uncertainty about how Charlotte NC will be affected by the merger, at least now we know who Wachovia will be merging with and can look ahead to learning more about what impact and presence the new Wells Fargo will have in Charlotte.

Copyright©2008 by Diane McDermott, All Rights Reserved, “Wachovia, Wells Fargo Deal Moves Forward”

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