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However, the crisis did create a climate in which healthy banking institutions saw an opportunity to merge with and/or acquire competing banks.Like all well planned mergers, the acquiring realized that synergies would result by combining the assets and capabilities of the two institutions.
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So, what is the secret of Wachovia being so successful?
Among services provided by the company is full service retail brokerage offered to the customers. is the fourth larges bank of America on the basis of corporate assets.
But according to clients assets it is the third one.
At the end of the second quarter of 2008, Wachovia had assets of 2 billion, making it the fourth largest banking organization in the United States in asset terms.
Wachovia's principal subsidiary was Wachovia Bank, which had assets of 1 billion.
The main point of my essay is to describe one of the largest banks of the USA.
For this reason I chose such commercial institution as Wachovia Corporation.