Wachovia
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Wachovia is a diversified financial services company that provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. We are one of the largest providers of financial services in the United States, with retail and commercial banking operations in 21 states from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 states and auto finance covering 46 states. Globally, Wachovia serves clients through more than 40 offices around the world.
Wachovia Corporation
Wachovia was formed by the 2001 merger of First Union Corporation and the former Wachovia Corporation. In connection with the merger, First Union changed its name to Wachovia Corporation.
First Union
First Union's modest beginnings were in the Buford Hotel on Charlotte's Tryon Street not long after the turn of the 20th century. H. M. Victor raised funds to start Union National by selling 1,000 shares of stock at $100 each. In 1958, Union National merged with First National Bank and Trust Company of Asheville, forming First Union National Bank of North Carolina.
Over the decades, First Union, through mergers with more than 80 banks and other companies, grew into a diversified financial service company.
Wachovia
Wachovia is the Latin form of the German name Wachau. In 1753, Moravian settlers gave this name to a tract of land they acquired in North Carolina. The settlers chose the name because the land resembled a valley along the Danube River known as Der Wachau.
In 1879, a bank opened in the town of Winston under the name Wachovia National Bank. Fourteen years later, Wachovia Loan and Trust opened nearby. The two merged in 1911 to form Wachovia Bank and Trust, which evolved into Wachovia Corporation.
COMMITMENT TO DIVERSITY
For Wachovia to reach its true potential, we must continue to build an organization that values individual differences. Our focus is on creating an inclusive workplace where we value and retain employees and deliver our best service to customers and communities. Diversity at Wachovia is a business imperative. Aligning with our customer base, engaging our communities, and attracting and retaining talented individuals are critical to our success.
We are committed to being an inclusive company where all people are treated fairly, recognized for their individuality, promoted based on performance and encouraged to reach their full potential. We believe in recognizing, understanding, and respecting differences among all people. Every individual at Wachovia has an ongoing responsibility to advance diversity.
Corporate Diversity Council
Wachovia's Corporate Diversity Council is chaired by CEO Ken Thompson and includes a cross section of individuals from across the company. The purpose of the council is to convert the ideal of what we think our company stands for into strategies that ensure that the ideal becomes reality.
The Corporate Diversity Council develops and maintains Wachovia's strategic plan for diversity and monitors the company's progress. The council meets quarterly to review status and recommend actions. The council's strategic plan supports our customer relationship, employee engagement and supplier diversity priorities.
Council members for 2005 are:
David Carroll, Capital Management Group
Jean Davis, Operations, Technology and eCommerce
Gigi Dixon, Community Relations
Jay Everette, Corporate Marketing
Terry Freeman, Wachovia Securities Investment Services Group
John Guy, Wholesale Products, General Bank
Donna Hill, Enterprise Support Services
Ben Jenkins, General Bank
Stan Kelly, Wealth Management
Michelle Lee, General Bank
Janet Manzullo, Operations, Technology and eCommerce
Shannon McFayden, Human Resources and Corporate Relations
Leon McLennon, Wachovia Trust
Rick Otey, General Bank
Ann Prock, General Services
Arati Randolph, Corporate Communications
Bob Reid, Capital Management Group
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