Press Releases

The first Long Island financial center will open fall 2005.  An agreement has already been signed for a center at 9 Glen Cove Road, Greenvale.

"The Long Island retail entry is a natural extension of our Manhattan strategy, and our desire to serve customers where they live and work,” said Mike Slocum, Atlantic Region CEO for Wachovia Bank, N.A. “Additionally, our Long Island plans complement our Wealth Management, Brokerage and Wholesale Banking groups that are currently serving this market.”

According to Slocum, Nassau and Suffolk counties have more than 2.7 million residents and more than 135,000 Manhattan commuters, which will offer a tremendous opportunity to deepen and enhance relationships with existing customers and acquire new customers.

In Manhattan, the bank plans to open 10-12 more financial centers over the next 24 months.   Agreements have been signed for financial centers at 120 Seventh Ave. and 17th St.; 1370 Third Ave. and 78th St.; and 2040 Broadway and 70th St.

Wachovia opened its first two New York City retail branches in 2003. Previously, the company only operated its Corporate and Investment Bank, Insurance and Wealth Management and Capital Management lines of business in the New York City market.  Today, Wachovia has 13 financial centers in Manhattan and employs more than 2,000 individuals through the company’s General Bank, Corporate and Investment Bank, Capital Management and Wealth Management Groups.   In the Tri-State, Wachovia has more than 465 financial centers and employs more than 10,000 through the company’s various lines of business.

About Wachovia Corporation
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.