Who bought Wachovia bank?

Wells Fargo acquired Wachovia Bank.

The Acquisition of Wachovia Bank by Wells Fargo

Wachovia, a significant American diversified financial services company, had a long history in the banking industry, having been founded on June 16, 1879. It operated as an independent public corporation for many decades, growing into a major financial institution.

The Role of Wells Fargo

In 2008, during the height of the global financial crisis, Wachovia faced severe financial distress. To stabilize the institution and protect its assets, Wells Fargo & Company, another leading American financial services company, stepped in and acquired Wachovia. This acquisition marked the end of Wachovia's journey as an independent entity.

The integration process began swiftly, leading to Wachovia being officially defunct as an independent corporation on December 31, 2008. Over the subsequent years, Wells Fargo transitioned Wachovia's operations, branches, and customer accounts into its own system. The well-known Wachovia brand itself continued to be used for a period but was eventually retired on October 15, 2011, with all services and branding fully consolidating under the Wells Fargo name.

Key Facts About Wachovia's Fate

Here is a summary of key information regarding Wachovia's corporate history and its acquisition:

The acquisition of Wachovia significantly expanded Wells Fargo's market reach and customer base across the United States, solidifying its position as one of the country's largest banks. For additional historical context, you can explore the Wachovia Wikipedia page.