CEOs Of Wells Fargo, Wachovia To Appear Together

The chief executive officer of Wells Fargo will join his counterpart from Wachovia for an employee welcoming event in Charlotte.

Wells Fargo CEO John Stumpf will appear with Wachovia CEO Bob Steel at the Wachovia Atrium late Wednesday morning in downtown Charlotte. A statement from Wachovia said the event is designed to introduce Stumpf to Wachovia employees as well as the Charlotte media.

The Federal Reserve last Sunday approved Wells Fargo's $11.7 billion acquisition of North Carolina-based Wachovia, removing the deal's last major regulatory hurdle.

Citigroup initially agreed to buy Wachovia's banking operations for $2.1 billion in a deal brokered by the Federal Deposit Insurance Corp. But four days later, Wells Fargo announced that Wachovia's board had agreed to an $11.7 billion all-stock offer.

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