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Did anyone just see the breaking news on CNBC that Morgan Stanley is considering a merger with Wachovia? Earlier they said Morgan Stanley received a call from Wachovia.
I'd love hearing everyone's perception regarding that.
If Wachovia teamed up with an investment bank, that would be best for Charlotte, as opposed to hooking up with another bank. Wachovia Securities is based in St. Louis and still has major operations in Richmond after the AG Edwards merger. Both BofA and Wachovia have done a good job of spreading out their operations over the years.
Here are some related articles:
Mound City Money » Blog Archive » Wachovia reportedly in talks with Morgan Stanley (http://www.stltoday.com/blogzone/mound-city-money/mound-city-money/2008/09/wachovia-reportedly-in-talks-with-morgan-stanley/ - broken link)
WB Brokerage boss defends merger: Wachovia Securities CEO: Changes felt in Richmond will help the firm survive (http://www.tradingmarkets.com/.site/news/Stock%20News/1879494/ - broken link)
I guess after the last few years the whole Wachovia/Wells Fargo thing can finally be put to rest?
Brian, that has been put to rest years ago by the upper mgmt of WB. The cultures of the two banks are just too different and there really would be a (serious) clash in the way the businesses are run.
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No Wells Fargo
