Leaders of both banks, though, see this as a win-win. The prospects of that occurring are high, given that two bank chiefs will run this new enterprise together. Mr. Thompson will be president and CEO and Mr. Baker will be chairman. Both are respected and experienced banking managers. For Charlotte, this merger appears to be very good news.
Observers see a boost for the local economy and the central city in particular.
They also note that, like big sister Bank of America, these two companies have a strong reputation for corporate citizenship. The new company will have 19 million customers and 2,900 branches. Welcome to Charlotte, Wachovia.