I don't know.
This is the notice I received from Citi this afternoon:
We are proud to announce that Citi has agreed in principle to purchase Wachovia's consumer banking operations, which includes one of the premier banks in the United States. When this combination happens at year-end, we will be able to bring you more of everything -- more branches, more ATM's and more personal banking specialists. You can look forward to access to 4,300 branches and 28,000 fee-free ATMS in 23 markets.
As details on this exciting combination become available, we will continue to update you.
Citi ended up with the best part of Wachovia...its retail banking business and their customers will definitely benefit. IF they can deliver the same customer service that Wachovia has. I’m thinking they’d be total fools not to retain most of the GBG management and their operating model and let them run the damn thing. They’ve already said they planned to keep it headquartered in Charlotte, hopefully for that very reason.