SAN FRANCISCO - March 30, 2010
Wells Fargo & Company (NYSE:WFC) said today that the majority of Wachovia international locations have begun operating under the Wells Fargo name and brand. Effective March 20, the name change reflects Wachovia’s continued integration with Wells Fargo, which acquired Wachovia Corporation on Dec. 31, 2008.
“Since announcing the Wachovia and Wells Fargo merger, we’ve been building on each other’s strengths and expanding our capabilities to better help our customers,” said Dave Zuercher, executive vice president and group head of Wells Fargo’s International Group. “We’re proud to serve our global customers as one team. Providing our customers with the same high level of service and helping them succeed financially remains our number one priority.”
The majority of former Wachovia international offices will now use the Wells Fargo name and brand on communication materials including office signage, marketing collateral and stationery. Although most Wachovia overseas offices have converted, some locations will continue to operate under the Wachovia name and convert later this year. The name change does not affect the way customers do business with either Wells Fargo or Wachovia.
“We’re proud to be part of Wells Fargo’s continued commitment to building lasting banking relationships with leading financial institutions worldwide,” said Michael Heavener, executive vice president and group head of Wachovia’s Global Financial Institutions and Trade Services. “With our legacy extending for over 100 years, we will continue to serve U.S. customers through our overseas offices and network of 4,000 global correspondent banks while offering expanded solutions to help them conduct business.”
As part of Wells Fargo’s International group, Global Financial Institutions and Trade Services (GFITS) provides banking services to financial institutions and multilateral and international agencies worldwide. GFITS’ offerings include payments, collections, trade services and outsourcing, deposits, credit, foreign exchange, and risk management.
Wells Fargo's International Group serves individuals, businesses, corporations, financial institutions, and multilateral and international agencies with a wide range of international solutions. With 27 overseas representative offices and branches in Hong Kong, London, Seoul, Shanghai, Singapore, Taipei, Tokyo and the Cayman Islands, Wells Fargo is currently ranked number No. 1 in overall institutional customer satisfaction and No. 2 in the world in worldwide market share for primary global correspondent banking relationships by FImetrix.
Effective March 20, 2010, Wachovia Bank, N.A. and Wachovia Bank of Delaware, N.A. were combined under one charter, Wells Fargo Bank, N.A.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.