Wells Fargo strategy for Wachovia nears completion

North Carolina is the heart and soul of Wachovia country. Wachovia Automated Teller Machines, all 640 of them, are still a frequent site driving on the highways and back roads of the Tar Heel State. The HousingWire editorial staffers just couldn’t help but notice it while making our way to the REthink Symposium last week in Pinehurst, N.C. Of course, there hasn’t been a Wachovia for two and a half years. Wells Fargo president and CEO wrote of his firm’s takeover of the Charlotte-based bank in January 2009 that “blending cultures, combining businesses, products and systems, and changing names will take time — two to three years — because we want to do it right for you.” Today, Wells released the working timeline to final integration. Back in 2009, Wells Fargo blog reader Jeremiah Owyang wrote that, “as a customer of Wachovia, I’m very interested to see how my customer experience will change during this integration, and applaud you for your open communications.” Jeremiah will be pleased that Wells is keeping the “Wachovia Waves,” and adding a new “variants of Wells Fargo’s gold color” (translation: Bright yellow). The whole event is indicative of a rethink at the nation’s largest financial institutions. Wells Fargo is going to new lengths to get the word out, progress, and not ruffle too many feathers among those loyal to Wachovia. All of this is to insure the most important bottom line, according to the Wells Fargo blog post from today. Wachovia account holders in North Carolina are a dying breed, the end of an era for many who are waiting for rebirth coming sometime in October 2011. “Until then,” the Wells blog states, “please continue banking as usual!” Write to Jacob Gaffney. Follow him on Twitter @JacobGaffney.

3d rendering of a row of luxury townhouses along a street

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