Wachovia Plans No Major Acquisitions In 2008

Wachovia chief executive Ken Thompson says he isn't interested in growing the Charlotte bank through a major purchase this year.

Thompson says he wants to focus on the two most recent purchases. Those buys are retail brokerage firm AG Edwards and Golden West Financial, one of the country's largest mortgage lenders.

Thompson also says the bank will focus on building branches. He says he plans to open 110 new branches this year, many of them in Texas and the West.

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