• Wachovia Corporation is a multinational banking corporation providing a wide range of financial services to both consumers and businesses. It provides financial services through its four divisions: General Bank, Wealth Management, Capital Management, Corporate and Investment Banking.

  Wachovia suffered from financial insolvency in 2008, spurred by the subprime mortgage crisis. Wells Fargo bought the company in 2008 in an $11.7 billion acquisition.USA Today: Federal Reserve approves Wells Fargo's Wachovia buy (October 13, 2008) The two will eventually merge into one bank.Wells Fargo: Customer Frequently Asked Questions

• 1. Annual revenue (2007): $55.5 billion
  2. Year Established: 1908
  3. Industry: Finance and Insurance
  4. Phone: (704) 590-0000
  5. Fax: (704) 374-3425
  6. HQ: Charlotte, North Carolina
  7. CEO and President: Robert Steel
  8. CFO: David K. Zwiener
  9. Other key people: Stephen E. Cummings
  10. Bought by Wells Fargo in 2008 in a $11.7 billion dealUSA Today: Federal Reserve approves Wells Fargo's Wachovia buy (October 13, 2008)
  11. Federal Reserve approved the take over on October 12, 2008
  12. Wells Fargo and Wachovia are currently two separate banks; will eventually merge into oneWells Fargo: Customer Frequently Asked Questions

• Key Dates

  1. 1879: Wachovia National Bank established
  2. 2001: First Union Corporation merges with Wachovia
  3. 2003: Wachovia and Prudential form Wachovia Securities
  4. 2008: Wells Fargo buys Wachovia

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