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One of main
Wachovia Securities' predecessor companies was founded in 1934 as the investment firm of J.C. Wheat & Co. Wheat fostered growth through mergers, including the 1971 merger with First Securities that created Wheat First Securities, Inc. and the 1988 merger with Butcher & Singer, a
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combined on July 1, 2003. Wachovia owned 62% of this entity, while
Prudential Financial owned 38%. At the time, the new firm had client assets of $ 532.1 billion, making it the nation's third largest full service retail brokerage firm based on assets. Much of the retail brokerage came from
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successful
Philadelphia-based securities firm established in 1910; the firm then became known as Wheat First Butcher Singer. In August 1997, the privately held Wheat First Butcher Singer agreed to be acquired for just under $ 500 million by the Charlotte, North Carolina-based
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In 2008 Wachovia was bought out by Wells Fargo for $ 15.1 billion. This was approximately $ 7 a share, which is nearly an 80 percent premium closing price of $ 3.91. On May 1, 2009, the retail brokerage legally changed its name to Wells Fargo
Advisors.
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In 2001, the firm became known as
Wachovia Securities when parent companies of Wheat First Union and IJL Wachovia, First Union and Wachovia Corporation, merged. The newly formed Wachovia then merged the brokerage operations to form Wachovia Securities.
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Wachovia's institutional capital markets and investment banking business arose from the merger of
Wachovia and First Union. First Union had bought
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Separately, Wachovia
Corporation acquired the brokerage firm Interstate Johnson Lane in April 1999, and changed the name to IJL Wachovia.
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bank. The brokerage firm changed its name to Wheat First Union, reflecting its newly acquired status. In April 1999, First Union acquired
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retail brokerage and institutional capital markets and investment banking subsidiaries. Following
Wachovia's merger with
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Wachovia
Securities grew through the mergers of multiple companies. Its oldest predecessor company,
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on May 1, 2009 and the institutional capital markets and investment banking group became
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202:-based investment bank and brokerage Everen Capital Corp. for $ 1.1 billion.
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Wachovia
Securities and the Prudential Securities Division of
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First Union Completes Acquisition of Bowles Hollowell Conner
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with $ 1.17 trillion retail client assets under management.
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In May 2007, Wachovia Securities announced the purchase of
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Institutional Capital Markets and Investment Banking
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Financial services companies disestablished in 2009
164:on December 31, 2008, the retail brokerage became
1005:Financial services companies of the United States
335:(Press release). Wachovia Corporation. 2003-07-01
292:Legacy components of Wachovia Securities include
995:Financial services companies established in 2001
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399:"Wells Fargo Buys Wachovia for $ 15.1 Billion"
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217:Prudential's previous acquisition of
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904:Wells Fargo Tower (Colorado Springs)
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864:Wells Fargo Center (Salt Lake City)
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707:First National Bank (Philadelphia)
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930:Wells Fargo cross-selling scandal
894:Wells Fargo Center (Philadelphia)
854:Wells Fargo Center (Portland, OR)
839:Wells Fargo Center (Jacksonville)
667:Bowles Hollowell Conner & Co.
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429:Bowles Hollowell Conner & Co.
294:Bowles Hollowell Connor & Co.
255:Bowles Hollowell Connor & Co.
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844:Wells Fargo Center (Los Angeles)
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257:on April 30, 1998 adding to its
859:Wells Fargo Center (Sacramento)
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899:Wells Fargo Tower (Birmingham)
614:Wells Fargo Insurance Services
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353:Boyd, Roddy (April 30, 2007).
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637:ABD Insurance & Financial
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1010:Companies based in St. Louis
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798:Allspring Global Investments
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889:Wells Fargo Plaza (Phoenix)
884:Wells Fargo Plaza (Houston)
879:Wells Fargo Plaza (El Paso)
834:Wells Fargo Center (Denver)
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813:Tillie the All-Time Teller
732:Garden State National Bank
397:Lepro, Sara (2008-10-03).
377:"Why Wachovia Securities?"
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697:First Commerce Bancshares
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611:Wells Fargo Home Mortgage
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747:Halsey, Stuart & Co.
702:First Interstate Bancorp
355:"Global 'Bache' For Pru"
298:Halsey, Stuart & Co.
752:National Bank of Alaska
712:First Pennsylvania Bank
162:Wells Fargo and Company
925:History of Wells Fargo
829:One Wells Fargo Center
642:Atlantic National Bank
617:Wells Fargo Securities
379:. Wachovia Corporation
302:Leopold Cahn & Co.
259:merger and acquisition
249:Wells Fargo Securities
188:Leopold Cahn & Co.
170:Wells Fargo Securities
156:was the trade name of
87:Wells Fargo Securities
762:Prudential Securities
742:Golden West Financial
737:Georgia Railroad Bank
727:Florida National Bank
687:Evergreen Investments
682:Crocker National Bank
662:Bank of North America
632:Abbot-Downing Company
625:Historical components
608:Wells Fargo Financial
310:Prudential Securities
190:was founded in 1879.
677:CoreStates Financial
601:Wells Fargo Advisors
586:Suzanne M. Vautrinot
214:Prudential Financial
182:Wells Fargo Advisors
166:Wells Fargo Advisors
147: (archive index)
83:Wells Fargo Advisors
782:Wachovia Securities
271:equity underwriting
229:St. Louis, Missouri
154:Wachovia Securities
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28:Wachovia Securities
909:Duke Energy Center
565:Theodore F. Craver
535:Board of directors
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874:Wells Fargo Place
791:Former components
657:Bank of Baltimore
583:Ronald L. Sargent
275:private placement
267:leveraged finance
172:on July 6, 2009.
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16:(Redirected from
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574:Maria R. Morris
571:Donald M. James
568:Wayne M. Hewett
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363:the original
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337:. Retrieved
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93:Headquarters
71:Acquired by
973:Wikiversity
722:First Union
511:Henry Wells
484:Wells Fargo
196:First Union
119:Wells Fargo
73:Wells Fargo
989:Categories
772:SouthTrust
551:(chairman)
383:2008-04-04
339:2007-10-14
316:References
263:high yield
247:See also:
180:See also:
158:Wachovia's
822:Buildings
803:H.D. Vest
594:Divisions
449:(Archive)
98:St. Louis
79:Successor
46:Financial
949:Category
777:Wachovia
504:Founders
403:ABC News
131:Wachovia
102:Missouri
42:Industry
961:Commons
918:History
757:Norwest
495:History
200:Chicago
143:at the
137:Website
60:Defunct
52:Founded
285:, and
126:Parent
545:(CEO)
115:Owner
308:and
108:U.S.
85:and
68:Fate
63:2009
55:2001
227:of
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20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
