Hints and tips:
...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....
...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...
...“I’m eight, nine months into the job and I’m thinking oh my gosh, we just saw Bear Stearns go down, we saw Wachovia go down, we saw Merrill Lynch go down . . . the thing that was primary to me in facing...
...Best known for being the dominant US retail bank, Wells has been quietly building up its investment bank since it acquired Wachovia during the financial crisis in 2008....
...PWP raised more than $1bn from families including the Weinbergs, as well as from Middle Eastern funds Istithmar and Gulf Investment Corp....
...Bob Steel, the former chief executive of Wachovia and deputy mayor to Michael Bloomberg in New York, has joined the board of Funding Circle to help the London-based online business loan marketplace extend...
...Wells Fargo bought Wachovia. And Mr Gorman’s investment bank bought Smith Barney from Citi, giving him 16,400 brokers fanned out across the country....
...Wells Fargo had swallowed Wachovia, JPMorgan had been given both Bear Stearns and Washington Mutual....
...Burdale changed hands several times in recent years, being sold first to Wachovia, then Bank of Ireland, before being acquired in 2012 by Wells Fargo....
...Unlike most other litigation stemming from the mortgage crisis, the MBS – sold to investors led by Wachovia, the bank since acquired by Wells Fargo, and the Federal Home Loan Bank of San Francisco – contained...
...They are BNY Mellon, BB&T, Sovereign, now part of Santander, Wells Fargo, Wachovia. and WaMu, which settled in bankruptcy court....
...The buyers of the MBS were the Federal Home Loan Bank of San Francisco and Wachovia, since acquired by Wells Fargo. Neither has sued BofA over the MBS in five years since they bought them....
...Mr Thompson, former chief executive of the Wachovia bank, was chairman of the audit committee....
...Other suits against Barclays, Credit Suisse, Goldman Sachs, JPMorgan, Royal Bank of Scotland, UBS and Wachovia are still pending....
...Mr Hammergren, chief executive of the drug wholesaler McKesson, is chairman of HP’s finance and investment committee and Mr Thompson, former chief executive of Wachovia, is chairman of the audit committee...
...Other suits against Barclays, Credit Suisse, Goldman Sachs, JPMorgan, Royal Bank of Scotland, UBS and Wachovia are still pending.”...
...However, much of this growth was driven by acquisitions, such as the 2008 purchase of Wachovia, which brought the latter’s $175bn Evergreen book of business into the fold, although Mr Niedermeyer says WFAM...
...Bank of America’s 2008 takeover of Merrill Lynch for $18bn and Wells Fargo’s Wachovia acquisition for almost $13bn are the next largest deals....
...Wells Fargo and Wachovia are/were mega banky, right? Why, yes they are!...
...Even after the acquisition of Wachovia, Wells has continued to accelerate its spending, with an increase of more than 40 per cent between 2010 and 2011....
...Since the financial crisis, many US banks, such as Wachovia and Citigroup, have run afoul of laundering rules. Regulators investigate. Hearings are held. Headlines are generated....
...Wells Fargo, the San Francisco-based bank, which touts the advantages of using cloudlike technologies to help steer the company through a three-year integration project following the $15bn acquisition of Wachovia...
...More than $4bn in bulk cash was also transported from Mexican banks to Wachovia accounts....
...In court filings, Wachovia “accepted and acknowledged responsibility” for money laundering violations....
...Among the many challenges thrown at him by the crisis-stricken Citi was attempting to save an agreed deal to buy Wachovia in 2008 and block a rival offer from Wells Fargo....
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