Press Releases

Based on a survey of more than 4,000 financial services industry customers, the Organic Growth Index measures the ability of a company to attract and retain customers. It offers a clear portrait of a company’s skill at satisfying customers and winning their loyalty.

In its analysis of the survey Kearney states, “Wachovia commands the highest customer and wallet momentum scores among the retail banks. Nearly 50 percent of Wachovia’s customers consider it their primary financial institution, and more than 95 percent are unlikely to switch to another firm.”

Gwynne Whitley, Wachovia’s head of Corporate Customer Service Excellence, said: “We are very pleased with the results of A.T. Kearney’s survey, which is further validation of our intense focus on customer loyalty and satisfaction at Wachovia. Customers are rewarding us for our customer-centric and systematic approach to service. These scores demonstrate that customers trust us with their finances and to consistently deliver excellent products, service and advice as we grow.”

Cece Sutton, head of Wachovia’s Retail Bank, said: “We have created a culture at Wachovia through our systems, processes and employee incentives where customers come first.  We are now seeing results from that focus in deeper customer relationships and more repeat sales.”

Earlier this year, Wachovia set a new standard for customer satisfaction in the University of Michigan Business School’s American Customer Satisfaction Index, the fourth consecutive year the bank led its peers in the survey.

Just last month, Wachovia won the 2005 Brandweek Customer Loyalty Award in the bank category. Wachovia was one of 42 companies in 35 categories to be recognized with the award, based on a survey of customers conducted by Brand Keys Inc., a highly regarded New York-based brand and customer loyalty research consulting firm.

About Wachovia

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $506.8 billion, market capitalization of $80.3 billion and stockholders’ equity of $46.5 billion at March 31, 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 3,277 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 693 offices in 49 states and five Latin American countries. Our Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.