Monday, September 29th, 2008
Wells Fargo and Citigroup were in the running to take over Wachovia's banking operations, and it looks like Citigroup (NYSE:C) has emerged as the winner. The deal was facilitated by the FDIC, who says that Wachovia did not fail.
Citigroup will absorb up to $42 billion of losses in the ...
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Monday, September 29th, 2008
Wachovia and Wells Fargo are now in the advanced stages of merger talks. According to the New York Times, federal regulators are pushing Wachovia hard to sell out to Wells Fargo. Initially this weekend, Wachovia had been speaking to Citigroup (NYSE:C) as well as Wells Fargo, but it ...
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Thursday, July 10th, 2008
Robert Steel is the new CEO of Wachovia. Robert Steel is scheduled to take over immediately. The move should assure investors, who have become nervous about Wachovia's performance.
Robert Steel brings heavyweight experience to bear at Wachovia. Steel was the Under Secretary for Domestic Finance for ...
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Monday, June 2nd, 2008
Lanty Smith has been named as Wachovia's (WB) Interim CEO after Chief Executive Kennedy Thompson was deposed from his position.
Recently deposed Wachovia CEO, Ken Thompson.
Lanty Smith said that the search for a new Chief Executive Officer is on and that the company didn't need to raise cash. He said ...
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