Strategic Management of Wachovia Wachovia Corporation Wachovia Corporation was created after the merger of First Union Corporation and the original Wachovia Corporation in 2001. First Union Corporation was the actual purchaser of Wachovia Corporation. First Union began as a one-man operation operating out of the Buford Hotel in Charlotte, North Carolina. Over the years, First Union has grown and gained a reputation as a company with strong financial performance and superior customer service. Its strong underwriting performance over the years is what kept the bank above water during the depression of the 1930s and well into the 21st century. While its roots lie in general banking, the company has diversified into a full-service financial services company. During 1999, First Union made a fatal mistake that led to the purchase of Wachovia Corporation. First Union destroyed its reputation for excellent customer service by forcing all customers who came into the bank to use phones that would connect them to a national call center. With customers unable to get service at banks, First Union failed to stop the landslide that would ruin their name in the industry. Seeking a quick solution to the problem, First Union purchased and merged with Wachovia Bank, America's top-rated bank for customer service. First Union kept its business model intact, but quickly returned to banking backing and took the name Wachovia Corporation. (Watson, 2007) The Wachovia Corporation as it stands today is one of the leading financial services providers in America. Wachovia has some international ties, but the company primarily operates in the continental United States. “Wachovia offers commercial and retail banking, mortgage banking, investment banking, investment advisory, wealth management, leasing, insurance, retirement services and securities brokerage services.” (Wachovia.com) With Wachovia's recent acquisition of Golden West Corporation, it now operates in 21 states and has more than 3,400 banking centers. It employs more than 110,000 people and is headquartered in Charlotte, North Carolina. Wachovia Corporation has several subsidiaries that make up its family of financial providers. Its largest branches include Wachovia Bank, N.