“The Wachovia name represents great strength in the financial services industry, and as the Canadian branch of the Wachovia Capital Finance division, it makes sense for us to leverage the reputation of the Wachovia brand. We will continue to provide a superior level of service and expertise to our clients,” said Wayne R. Ehgoetz, president, Wachovia Capital Finance of Canada.
Wachovia Capital Finance of Canada became part of Wachovia through the merger of First Union and Wachovia in 2001. In March 2005, Wachovia’s asset based lending subsidiary Congress Financial officially retired its name in the United States. Wachovia consolidated and re-branded its U.S. asset based lending business as Wachovia Capital Finance. Wachovia Capital Finance of Canada will continue to engage in a strategy of providing clients with a range of services.
Wachovia Capital Finance, a part of Wachovia’s Corporate and Investment Banking division, is headquartered in Charlotte and has U.S offices in New York, Boston, Dallas, Philadelphia, Atlanta, Pasadena, Chicago and Fort Lauderdale.
About Wachovia’s Corporate and Investment Banking Group
Wachovia’s Corporate and Investment Banking group offers a full suite of products and services to public and private companies, institutional investors, financial institutions and the financial sponsor community. Investment banking and the global markets businesses (fixed income, equities, and research) operate under the Wachovia Securities’ brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring, research and execution services. Wachovia’s Corporate and Investment Bank also includes the 3rd largest Treasury Services business in the U.S. as well as leading asset-based lending and global correspondent banking services. The firm is built on a cohesive culture that encourages creative ideas, capital solutions, and experienced advice to all clients.
Wachovia Securities is the trade name for the corporate, investment banking, capital markets and securities research businesses of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC (WCM) and Wachovia Securities International Limited. Wachovia Securities is also the trade name for the retail brokerage businesses of WCM’s affiliates, Wachovia Securities, LLC, Wachovia Securities Financial Networks, LLC, Wexford Clearing, LLC, and First Clearing, LLC.
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $532.4 billion, market capitalization of $73.9 billion and stockholders’ equity of $46.8 billion at September 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,138 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 702 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.
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