309:). The investigation centered on a former A.G. Edwards broker, William "Buck" McHugh, who had targeted the Boston Edison retirees for their large severance packages beginning in the late 1990s. The complainants accused A.G. Edwards of failing to properly supervise McHugh as he allegedly steered millions of dollars into failed investments and embezzled funds from client accounts. Wachovia settled claims by the A.G Edwards customers in an agreement with the state.
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290:, which made up most of World Savings' nearly $ 200 billion mortgage portfolio, put significant strain on Wachovia and eventually caused its collapse. On July 1, 2009, Wachovia Securities was renamed Wells Fargo Advisors and Wells Fargo Investments, which included the former A.G. Edwards business lines.
190:. The firm provided securities and commodities brokerage, investment banking, trust services, asset management, financial and retirement planning, private client services, investment management, and other related financial services to individual, governmental, and institutional clients.
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in a $ 6.8 billion deal. On
September 28, 2007, the company's shareholders voted in favor of the merger with Wachovia. The acquisition closed on October 1, 2007, and A.G. Edwards became a wholly owned subsidiary of Wachovia Corporation.
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Former CEO, Benjamin
Edwards III, "who transformed A. G. Edwards, the St. Louis brokerage house founded by his great-grandfather, into the largest United States brokerage company based outside New York" died April 20, 2009, from
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As of March 29, 2007, the company had over 740 locations in 50 states, the
District of Columbia, London, and Geneva. The company served its clients through its branch-office networks staffed with 6,618
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In 2006 the firm agreed to pay $ 900,000 "to settle claims that it charged customers excessive account fees." In 2007 they paid "nearly $ 4 million" for a market-timing violation.
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launched a formal investigation into A.G. Edwards in response to a string of complaints from retirees of the former Boston Edison (now known as
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Due to increased capital needs for its branch system, A.G. Edwards was among the first brokerage firms to
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and other major stock and commodities exchanges. The firm's global headquarters were located in the
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Following the merger, Wachovia moved the world headquarters of combined retail brokerage,
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at the age of 77, a couple of years after A.G. Edwards folded into
Wachovia Securities.
232:. In November 1971, 445,000 shares of stock were offered to the public at $ 12 a share.
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On May 31, 2007, the company announced that it would be acquired by
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On
December 31, 2008, Wachovia Corporation was purchased by
374:"A.G. Edwards: A History - the Wells Fargo - Wachovia Blog"
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and its subsidiary World
Savings in mid-2007. The crash of
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holding company; its principal wholly owned subsidiary was
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in the United States and Europe. The firm was acquired by
278:& Co. after the bank was nearly taken over by the
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Financial services companies disestablished in 2007
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16:Former American financial services holding company
1138:Financial services companies established in 1887
558:"Benjamin Edwards, Brokerage Figure, Dies at 77"
474:"A. G. Edwards to Settle Claims of Overcharging"
363:." A. G. Edwards. Retrieved on August 19, 2009.
186:, and the securities division was folded into
170:, which operated as a full-service securities
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494:"A.G. Edwards Settles Market-Timing Charges"
267:, to A.G. Edwards' previous headquarters in
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339:Peter Edmonston; Eric Dash (June 1, 2007).
205:. The company traded on the NYSE under the
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446:"Wells Fargo completes Wachovia purchase"
23:. For the first Archbishop of Wales, see
434:Report about finalization of acquisition
182:; Wachovia was subsequently acquired by
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217:The company was founded in 1887 when
19:For the founder of this company, see
7:
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1037:Wells Fargo Tower (Colorado Springs)
997:Wells Fargo Center (Salt Lake City)
221:and his son opened for business in
1158:2007 disestablishments in Missouri
840:First National Bank (Philadelphia)
14:
1063:Wells Fargo cross-selling scandal
1027:Wells Fargo Center (Philadelphia)
987:Wells Fargo Center (Portland, OR)
972:Wells Fargo Center (Jacksonville)
800:Bowles Hollowell Conner & Co.
556:Natasha Singer (April 22, 2009).
539:"Retirees to recoup their losses"
413:A.G. Edwards Financial Highlights
193:A.G. Edwards was a member of the
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982:Wells Fargo Center (Minneapolis)
977:Wells Fargo Center (Los Angeles)
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303:Massachusetts Secretary of State
1153:1887 establishments in Missouri
992:Wells Fargo Center (Sacramento)
423:News of acquisition by Wachovia
1032:Wells Fargo Tower (Birmingham)
747:Wells Fargo Insurance Services
341:"Wachovia to Buy A.G. Edwards"
1:
1148:2007 mergers and acquisitions
770:ABD Insurance & Financial
401:A.G. Edwards & Sons, Inc.
168:A.G. Edwards & Sons, Inc.
1128:Companies based in St. Louis
1002:Wells Fargo Center (Seattle)
931:Allspring Global Investments
1022:Wells Fargo Plaza (Phoenix)
1017:Wells Fargo Plaza (Houston)
1012:Wells Fargo Plaza (El Paso)
967:Wells Fargo Center (Denver)
301:In 2008, the office of the
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946:Tillie the All-Time Teller
865:Garden State National Bank
514:"Securities: A.G. Edwards"
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830:First Commerce Bancshares
744:Wells Fargo Home Mortgage
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282:. Wachovia had purchased
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880:Halsey, Stuart & Co.
835:First Interstate Bancorp
885:National Bank of Alaska
845:First Pennsylvania Bank
389:A.G. Edwards: A History
244:of $ 3,110,500,000 and
219:Albert Gallatin Edwards
195:New York Stock Exchange
21:Albert Gallatin Edwards
1058:History of Wells Fargo
962:One Wells Fargo Center
775:Atlantic National Bank
750:Wells Fargo Securities
25:A. G. Edwards (bishop)
895:Prudential Securities
875:Golden West Financial
870:Georgia Railroad Bank
860:Florida National Bank
820:Evergreen Investments
815:Crocker National Bank
795:Bank of North America
765:Abbot-Downing Company
758:Historical components
741:Wells Fargo Financial
284:Golden West Financial
238:financial consultants
49:Finance and Insurance
810:CoreStates Financial
734:Wells Fargo Advisors
719:Suzanne M. Vautrinot
313:Benjamin Edwards III
253:Wachovia Corporation
188:Wells Fargo Advisors
94:Wells Fargo Advisors
915:Wachovia Securities
269:St. Louis, Missouri
261:Wachovia Securities
203:St. Louis, Missouri
180:Wachovia Securities
109:St. Louis, Missouri
98:Wachovia Securities
81:(later merged with
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1042:Duke Energy Center
698:Theodore F. Craver
668:Board of directors
563:The New York Times
499:The New York Times
479:The New York Times
346:The New York Times
288:subprime mortgages
265:Richmond, Virginia
248:of $ 331,400,000.
178:to be folded into
164:financial services
160:A.G. Edwards, Inc.
120:Financial services
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1007:Wells Fargo Place
924:Former components
790:Bank of Baltimore
716:Ronald L. Sargent
482:. August 8, 2006.
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545:. 2008-11-22.
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688:Steven Black
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246:net earnings
242:net revenues
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105:Headquarters
45:Company type
31:A.G. Edwards
1106:Wikiversity
855:First Union
644:Henry Wells
617:Wells Fargo
294:Controversy
276:Wells Fargo
184:Wells Fargo
130:Wells Fargo
83:Wells Fargo
1122:Categories
905:SouthTrust
684:(chairman)
543:boston.com
524:2017-01-11
384:2009-06-06
361:Contact Us
326:References
955:Buildings
936:H.D. Vest
727:Divisions
230:go public
223:St. Louis
96:(through
90:Successor
1082:Category
910:Wachovia
637:Founders
201:area of
176:Wachovia
142:Wachovia
116:Products
79:Wachovia
75:Acquired
1094:Commons
1051:History
890:Norwest
628:History
458:25 June
451:reuters
263:, from
213:History
148:Website
63:Defunct
55:Founded
137:Parent
678:(CEO)
307:NSTAR
209:AGE.
126:Owner
111:, USA
460:2021
280:FDIC
71:Fate
66:2007
58:1887
77:by
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
