European Union Commissioner Charlie McCreevy attended the event. He said, "I'm delighted to have been formally invited to the opening of Wachovia's European headquarters in Dublin today. I'm sure the regulatory framework we have created in Europe over the past decade will facilitate Wachovia as it moves forward to develop markets for its financial services across the member states." Approximately 120 people attended the event. The offices opened in April after receiving approval from Irish Financial Regulator and the Federal Reserve. The international bank provides the banking platform for Wachovia's European capital markets businesses.
"I'm extremely pleased with the growth of this office," said Mike Buttner, CEO of Wachovia Bank International. "We've expanded our product offerings and are contributing to Wachovia's international growth and the growth of the Irish economy."
Wachovia Bank International has 27 employees in Dublin. During the first 6 months of operation, Wachovia Bank International has grown to $15 billion in assets. The office is expected to have 35 employees by the end of 2007, with space to grow to 100 employees over the next few years.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $754.2 billion and market capitalization of $95.3 billion at September 30, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to 13 million household and business customers. Wachovia has 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $800 billion in client assets through 11,400 registered representatives in 786 offices nationwide. The acquisition of A.G. Edwards, Inc., following the end of the third quarter, added approximately 740 offices, 6,300 financial consultants and $384 billion in brokerage client assets. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.
