Wachovia's first place ranking is based on a survey of 600 banking executives across the globe by the market research firm FImetrix for its annual "FImetrix Global Report on Bank-to-Bank Services" report. Wachovia also placed first in this survey in 2006.
"We are proud that once again clients in our industry have ranked Wachovia the best in overall satisfaction. Our desire to exceed client expectations is at the core of all the hard work we do," said Michael Heavener, the head of Wachovia's Global Financial Institutions and Trade (GFIT) business. "We focus to support our clients in every possible way -- with both innovative product solutions and attentive client care."
Wachovia's Number One ranking is a consolidated score based on a survey evaluating critical factors such as operational product quality, customer service quality, pricing, commitment to a long-term relationship, extension of credit, the ability to customize products, Internet capabilities, continuity of operations, in-market customer service, global support network, multicurrency assistance and risk management assistance.
This ranking is part of the annual Bank-to-Bank Services Report which FImetrix compiles consisting of global trends and scores for research done during the 2005-2006 period. The report consists of research for all of the markets for which they conduct correspondent banking surveys: Asia/Pacific, Latin America, Western Europe, Middle East and Central and Eastern Europe.
About Wachovia Global Financial Institution and Trade Group
Wachovia Bank's International Division has a 200-year legacy in International Correspondent Banking. Flmetrix Research recently ranked Wachovia Bank N.A. the number 1 Correspondent Bank provider in Asia and Latin America in terms of market share, and number 4 in Western Europe. Flmetrix also ranked Wachovia Bank N.A. as the number 1 bank worldwide in overall customer satisfaction for the past two years.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. Wachovia has retail and commercial banking operations in 21 states with 3,375 retail banking offices from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage with 742 offices in 49 states and nine service affiliate offices in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 states and auto finance covering 46 states. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. At December 31, 2006, Wachovia had assets of $707 billion and market capitalization of $108 billion.
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