Wachovia Receives Regulatory Approval for London Branch Office
Branch office status enables Wachovia, to provide a broader array of corporate banking services to companies doing business in Europe, including foreign-currency loans, deposit services, capital markets products, foreign exchange and investment services. The conversion of the London office to a branch is a component of Wachovia’s strategy to provide enhanced global banking services for corporate clients. Wachovia has developed an excellent European corporate customer base. Likewise, Wachovia’s strong U.S. corporate customer base opens opportunities to provide key services to their European subsidiaries.