fargo advisors and wells fargo securities founded 2001 defunct 2009 headquarters st. louis missouri u.s. parent wachovia website www.wachoviasecurities.com wachovia securities was the trade name of wachovia s retail brokerage and institutional capital markets and investment banking subsidiaries . following wachovia s merger with wells fargo and company on december 31 2008 the retail brokerage became wells fargo advisors on may 1 2009 and the institutional capital markets and investment banking group became wells fargo securities on july 6 2009 . contents 1 retail brokerage 2 institutional capital markets and investment banking 3 references 4 external links retail brokerage edit see also wells fargo advisors wachovia securities grew through the mergers of multiple companies . its oldest predecessor company leopold cahn & co. was founded in 1879 . one of main wachovia securities predecessor companies was founded in 1934 as the investment firm of j.c. wheat & co. wheat fostered growth through mergers including the 1971 merger with first securities that created wheat first securities inc. and the 1988 merger with butcher & singer a successful philadelphia based securities firm established in 1910 ; the firm then became known as wheat first butcher singer . in august 1997 the privately held wheat first butcher singer agreed to be acquired for just under 500 million by the charlotte north carolina based first union bank . the brokerage firm changed its name to wheat first union reflecting its newly acquired status . in april 1999 first union acquired chicago based investment bank and brokerage everen capital corp. for 1.1 billion . separately wachovia corporation acquired the brokerage firm interstate johnson lane in april 1999 and changed the name to ijl wachovia . in 2001 the firm became known as wachovia securities when parent companies of wheat first union and ijl wachovia first union and wachovia corporation merged . the newly formed wachovia then merged the brokerage operations to form wachovia securities . wachovia securities and the prudential securities division of prudential financial combined on july 1 2003 . wachovia owned 62 % of this entity while prudential financial owned 38 % . 1 at the time the new firm had client assets of 532.1 billion making it the nation s third largest full service retail brokerage firm based on assets . 1 much of the retail brokerage came from prudential s previous acquisition of bache & co. 2 in may 2007 wachovia securities announced the purchase of a. g. edwards of st. louis missouri . following the acquisition as of october 1 2007 the wachovia securities became the second largest brokerage firm in the united states with 1.17 trillion retail client assets under management . 3 in 2008 wachovia was bought out by wells fargo for 15.1 billion . this was approximately 7 a share which is nearly a 80 percent premium closing price of 3.91 . 4 on may 1 2009 the retail brokerage legally changed its name to wells fargo advisors . institutional capital markets and investment banking edit see also wells fargo securities wachovia s institutional capital markets and investment banking business arose from the merger of wachovia and first union . first union had bought bowles hollowell connor & co. on april 30 1998 adding to its merger and acquisition high yield leveraged finance equity underwriting private placement loan syndication risk management and public finance capabilities . 5 6 legacy components of wachovia securities include bowles hollowell connor & co. halsey stuart & co. leopold cahn & co. bache & co. and prudential securities . references edit a b wachovia corp. and prudential financial inc. complete combination of brokerage units press release . wachovia corporation . 2003 07 01 . retrieved 2007 10 14 . boyd roddy april 30 2007 . global bache for pru . new york post . archived from the original on may 5 2008 . why wachovia securities . wachovia corporation . retrieved 2008 04 04 . http abcnews.go.com business smarthome story id 5946486 http www.prnewswire.com cgi bin stories.pl acct 104 & story www story 05 01 1998 00006 45180 & edate first union completes acquisition of bowles hollowell conner http investing.businessweek.com research stocks private snapshot.asp privcapid 975680 bowles hollowell conner & co. external links edit wachovia securities v t e wells fargo history founders henry wells william fargo board of directors john stumpf chairman and ceo timothy sloan patricia callahan kevin rhein michael loughlin james strother richard levy david carroll michael heid david hoyt divisions wells fargo advisors wells fargo bank wells fargo financial wells fargo home mortgage wells fargo insurance services wells fargo securities historical components abd insurance & financial atlantic national bank a. g. edwards bache & co. bank of baltimore bank of north america bowles hollowell connor & co. century bank corestates financial crocker national bank evergreen investments first commerce bancshares first interstate bancorp first security first union florida national bank garden state national bank georgia railroad bank golden west financial halsey stuart & co. national bank of alaska norwest prudential securities southeast bank southtrust wachovia wachovia securities former components h.d. vest pamlico capital tillie the all time teller buildings one wells fargo center wells fargo center denver wells fargo center jacksonville wells fargo center los angeles wells fargo center minneapolis wells fargo center portland or wells fargo center sacramento wells fargo center salt lake city wells fargo center seattle wells fargo place wells fargo plaza el paso wells fargo plaza houston wells fargo plaza phoenix wells fargo center philadelphia wells fargo tower birmingham wells fargo tower colorado springs duke energy center category commons wikiversity retrieved from https en.wikipedia.org w index.php title wachovia securities & oldid 743638499 categories financial services companies of the united statescompanies based in st. louishidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 10 october 2016 at 14 19 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit 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