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...Shotgun M&A was a popular response, with Bear Stearns, Merrill Lynch, Wachovia, HBOS and Alliance & Leicester all moving overnight to new ownership....
...Wells has a strong foothold in the sector outside New York dating back to 2004, when a pair of former Citi private bankers launched a law firm business at what was then Wachovia....
...Other notable examples include LTCM, HBOS, Lehman Brothers, AIG and Wachovia....
...In that period, FHLB advances rose by nearly two-thirds by lending to large, poorly capitalised banks — some of which, such as Washington Mutual, Countrywide and Wachovia — eventually failed....
...Main ran the bank’s financial institutions group and worked on some of the bank’s biggest deals, including advising Wells Fargo on its acquisition of Wachovia....
...Citibank, Bank of America, Wachovia and Washington Mutual all failed in 2008 (three were bailed out and one was seized and sold) because managers fatally misunderstood mortgage risk....
...In high school, his mother forced him to join Saturday meetings sponsored by 100 Black Men, a mentoring group that paired him with a black executive from Wachovia bank and opened his eyes to the possibility...
...The authors claim this triggered deposit flight from Wachovia but offer no evidence it could otherwise have stayed out of trouble....
...It is the highest level since 2009, and in line with levels seen in the build-up to the 2008 financial crisis, when banks such as Washington Mutual and Wachovia — ultimately sold at knockdown prices to JPMorgan...
...It is a distant connection to Wachovia that is the reason why Barings, the $303bn global investment business, has its head office in Charlotte....
...Previously, he was director of market and institutional risk, head of corporate credit services, and was chief auditor at Wachovia, which was bought by Wells Fargo in the wake of the financial crisis....
...The ex-head of Goldman’s Canada business spent 21 years at the US investment bank, during which time he also advised on the $15bn sale of Wachovia to Wells Fargo....
...It has a star-studded board, including Eric Daniels, the former Lloyds chief, and Bob Steel, once of Goldman Sachs and Wachovia. But at this price?...
...By Friday’s close the splash went to Wells Fargo, which swooped to buy its rival, the ailing Wachovia, out of the arms of would-be rescuer Citi, which would soon need a huge bailout of its own....
...PWP hired Robert Steel, the former Goldman Sachs executive and chief executive of Wachovia, in 2014. And two years ago it joined forces with Texas-based energy boutique, Tudor, Pickering, Holt & Co....
...It went on to be acquired by SouthTrust Bank, which was bought in 2004 by Wachovia, where Ms Duke was an executive vice-president....
...The former Wachovia executive was made a Fed governor by former president George W Bush in 2008 and spent five years on the central bank’s board....
...In 2008 Goldman declined to buy Wachovia, which had a portfolio of mortgages with flexible repayment terms....
...Mr Sloan was speaking in Charlotte – a major hub for Wells Fargo after its 2008 acquisition of North Carolina-based Wachovia – less than two weeks after taking over the top job....
...It was one of the driving forces behind Wells’ acquisition of Wachovia just after the collapse of Lehman Brothers....
...After the Wachovia integration was complete, sales goals at her small branch in Macungie, Pennsylvania, were set much higher, and staff were hounded by district managers to hit them....
...Mr Sloan was speaking in Charlotte, an important hub for Wells after its 2008 acquisition of North Carolina-based Wachovia....
...However, the US attorney’s offices for the Northern District of California and Western District of North Carolina — where Wachovia, acquired by Wells in 2008, was based — are jointly conducting a justice...
...Its brush with the 2008 crisis was to acquire Wachovia amid the financial turmoil, cleverly gaining itself a nationwide branch network....
...Since taking over Wachovia in 2008, Wells has tried to bulk up its non-retail divisions, and now ranks as the biggest lender in the US with $947bn of loans — well clear of Bank of America with $901bn and...
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