Press Releases

“Being named the bank that provides the best overall satisfaction to clients is a significant achievement and we're proud.  We work hard to support our customers with both innovative product solutions and attentive client care,” said Michael Heavener, the head of Wachovia's Global Financial Institutions and Trade (GFIT) business.  

Wachovia's Number One ranking is a consolidated score based on the answers to a series of survey questions that looked at product quality, customer service, pricing, commitment to a long-term relationship, extension of credit, the ability to customize products, internet capability, continuity of operations, in-market customer service and risk management assistance.

Wachovia's GFIT business provides global correspondent banking and trade services to other financial institutions around the globe.  The business dates to the late 18th century and has been an integral part of Wachovia's Corporate and Investment Bank.  Last year, Wachovia acquired the correspondent banking business of Union Bank of California, which has enhanced the bank's strong presence in Asia.  Today, Wachovia serves international clients from 44 offices across the globe, delivering a full range of payments, trade outsourcing web-based services and capital markets solutions.

About Wachovia's Corporate and Investment Banking Group
Wachovia's Corporate and Investment Banking group offers a full suite of products and services to public and private companies, institutional investors, financial institutions and the financial sponsor community.  Investment banking and the global markets businesses (fixed income, equities, and research) operate under the Wachovia Securities brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring, research and execution services.  Wachovia's Corporate and Investment Bank also includes the 3rd largest Treasury Services business in the U.S. as well as leading asset-based lending and global correspondent banking services.  The firm is built on a cohesive culture that encourages creative ideas, capital solutions, and experienced advice to all clients.

About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia operates as Wachovia Bank through 3,159 offices in 16 states from Connecticut to Florida and west to Texas, and, until merger integration activity is completed, will continue to be known as Western Financial Bank in California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. 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. Wachovia had assets of $541.8 billion, market capitalization of $90.2 billion and stockholders' equity of $49.8 billion at March 31, 2006.