Wachovia – here we go again

Posted on September 29, 2008 
Filed Under Business, Community, News, Real Estate

From The Business Journal of the Greater Triad Area:

Citigroup Inc. will acquire the banking operations of Wachovia Corp., according to an announcement from the FDIC. The announcement did not detail the terms of the transaction or the immediate operational impacts except to say that there will be no interruption in services for bank customers.

Wachovia moved its headquarters from Winston-Salem to Charlotte in 2001 following its merger with First Union. The company still maintains its Wealth Management division in the Twin City. The impact of the sale of banking operations on that division has not been announced.

Wachovia’s total Triad employment is 3,800 people.

Big Question? What impact will this have on Triad jobs and, subsequently, the Triad housing market?

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