Wachovia growing in Memphis

By Geert De Lombaerde Posted on September 11, 2009 at 10:46 am

Since Wells Fargo acquired its superregional peer late last year, a good number of people have been waiting to see how the iconic bank will build on its new Mid-South presence. Wachovia ranks 16th in both Nashville and Memphis but is looking to move up in West Tennessee. In Nashville, the bank has this year only relocated it Green Hills office.

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Tags: banking, Memphis, Wachovia Corp., Wells Fargo & Co.  

State pockets $2M in auction-rate securities settlement

By Geert De Lombaerde Posted on June 18, 2009 at 4:10 pm

Citigroup will pay the Tennessee Department of Commerce & Insurance $1.6 million and Wachovia will pitch in about $450,000 to end an investigation into their sales of auction-rate securities. The payments are part of a national settlement that will have both banks pay penalties of about $50 million.

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Tags: auction-rate securities, Citigroup Inc., financial instruments, financial regulation, governmental investigations, Tennessee Department of Commerce & Insurance, Wachovia Corp.  

Meet the new boss

By Geert De Lombaerde Posted on January 8, 2009 at 10:04 pm

Definitely not the same as the old boss. Wells Fargo has named ‘insider’ Darryl Harmon to run its newly acquired ex-Wachovia operations in Tennessee, Georgia, Alabama and Mississippi.

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Tags: banking, Darryl Harmon, executive appointments, Wachovia Corp., Wells Fargo & Co.  

Wells CEO: No doubts about Wachovia deal

By Geert De Lombaerde Posted on December 10, 2008 at 10:10 pm

John Stumpf talks about his company’s post-merger priorities, which include the novel idea of being “interested in businesses that help consumers.”

Kudos to The Bank Draft for the find.

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Tags: acquisitions, banking, John Stumpf, Wachovia Corp., Wells Fargo & Co.