An Investigation of Wachovia :: essays research papers fc

An Investigation of Wachovia Table of Contents1.Background1.1Company History11.2Driving imbibe..........11.3Location..........11.4Quick Summary of1.4.1Employees..11.4.2Revenues Growth21.4.3Income Growth21.5Website.22.Products/ serve2.1 Major Categories of Products/service..22.2 Target Marker.32.3 Important Characteristics of Wachovia..42.4 Differentiation from Competitors42.5 grocery store Share52.6 New & Upcoming Features.53.Market Analysis3.1 Industry Characteristics63.2 Current State of Technology63.3 Competitive Analysis...73.4 Social/Legal/Ethical Issues..94. monetary Information4.1Ownership Structure124.2Income Statement & Balance Sheet Analysis.124.3Trend for4.3.1Share Price134.3.2Investment slaying..145.Recommendations5.1Current Technology & Improvements5.1.1Strategic Management.145.1.2Products & Service Offerings.155.1.3Customer Relations.165.1.4Human Resources175.1.5Marketing & gross sales..185.1.6Accounting and Finance.195.1.7Distribution of Money195.1.8Alliances & Par tnerships201.1Company HistoryWachovia was formed in 2001 by the merger of Wachovia jackpot and First Union fellowship. Wachovia National Bank was formed in Winston, North Carolina in 1879. The name Wachovia came from the Latin name for the German word Wachau. In the mid(prenominal) eighteenth century Moravian settlers gave the name Wachau to a tract of land in North Carolina because it resembled a piece of land along the Danube River called Der Wachau.First Union Corporation was formed in the early Twentieth century funded by a $100,000 stock issue. The troupes first headquarters were in a hotel in Charlotte, North Carolina. The company later merged with First National Bank of Ashville to form First Union National Bank of North Carolina.1.2Driving ForceThe current Chief Executive Officer of Wachovia is Ken Thompson. Thompson has been with the company since 1976 and previously held the CEO position at First Union Corporation. Wachovia is the fourth largest holding company in the U. S. and is the third largest full-service brokerage based on assets.1.3LocationWachovia headquarters is located in Charlotte, North Carolina, but the company has operations internationally. The company operates 3,900 financial centers and retail brokerage offices in forty-nine states and around the globe.1.4.1 EmployeesWachovia has 95,000 employees world wide. Of those ninety-five thousand, there are ten thousand-five hundred registered financial service representatives. 1.4.2 Revenues GrowthIn 2003 Wachovia had revenues of 24.4 billion dollars compare to 23.51 billion dollars in 2002. The increase in 2003 was the third nonparallel year that Wachovia has seen year-end revenue growth. Currently, Wachovia has experienced fifteen percent revenue growth in the first two quarters of 2004 and an eleven percent decrease in revenues in the third quarter.1.4.3 Income GrowthWachovia has seen income growth for nine consecutive quarters dating back to the second quarter of 2002 when compared to prior year income. Net Income in 2003 was 4.2 billion dollars compared with 3.6 and 1.6 billion dollars in 2002 and 2001.1.5 WebsiteThe Wachovia corporate website is www.wachovia.com 2.1 Major Categories of Products/ServicesWachovia Corporation is one of the nations largest providers of financial services to retail, brokerage, and corporate customers.