Wachovia

Wachovia, based in Charlotte, North Carolina, is a diversified, wholly owned financial services subsidiary of Wells Fargo. As an independent company, it was the fourth-largest bank holding company in the United States based on total assets.

The purchase of Wachovia Corporation by Wells Fargo was completed on December 31, 2008. Wells Fargo purchased Wachovia after a government-forced sale to avoid a failure of Wachovia.

Starting in 2009, the Wachovia brand is being absorbed into the Wells Fargo brand, in a process that was initially estimated to last three years. In July 2009, Wachovia Securities became Wells Fargo Advisors. The merger of Wells Fargo and Wachovia bank charters was completed on March 20, 2010 and this formally dissolved Wachovia as a separate entity. States containing both brands (not converted already) will convert in 2010 and all remaining branches will re-brand in 2011 to the Wells Fargo brand.