DavisBaldwin, which also has an office in Orlando, is the 70th largest insurance broker in the United States based on revenues from U.S. clients. DavisBaldwin now operates as a subsidiary of Wachovia Bank, N.A., which is the principal subsidiary of Wachovia Corporation (NYSE: WB), a $72 billion financial holding company with dual headquarters in Atlanta and Winston-Salem, N.C. Terms of the transaction were not disclosed.
In Florida, in addition to DavisBaldwin, Wachovia has five corporate services offices and 38 branches in Brevard, Broward, Hillsborough, Martin, Orange and Palm Beach counties. Wachovia’s Florida headquarters is in Tampa. On Oct. 30, Wachovia announced it will acquire Republic Security Financial Corp., a West Palm Beach-based bank holding company with $3.4 billion in assets and 99 Florida branch offices.
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