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Ranking Determined by FImetrix in a Survey of Global Financial Institutions
For the second consecutive year, Wachovia Corp., the fourth largest banking institution in the U.S. based on assets, received the "highest institutional satisfaction score" among banks that offer correspondent banking services.
Wachovia's first place ranking is based on a survey of 600 banking executives across the globe by the market research firm FImetrix for its annual "FImetrix Global Report on Bank-to-Bank Services" report. Wachovia also placed first in this survey in 2006.
"We are proud that once again clients in our industry have ranked Wachovia the best in overall satisfaction. Our desire to exceed client expectations is at the core of all the hard work we do," said Michael Heavener, the head of Wachovia's Global Financial Institutions and Trade (GFIT) business. "We focus to support our clients in every possible way -- with both innovative product solutions and attentive client care."
Wachovia's Number One ranking is a consolidated score based on a survey evaluating critical factors such as operational product quality, customer service quality, pricing, commitment to a long-term relationship, extension of credit, the ability to customize products, Internet capabilities, continuity of operations, in-market customer service, global support network, multicurrency assistance and risk management assistance.
This ranking is part of the annual Bank-to-Bank Services Report which FImetrix compiles consisting of global trends and scores for research done during the 2005-2006 period. The report consists of research for all of the markets for which they conduct correspondent banking surveys: Asia/Pacific, Latin America, Western Europe, Middle East and Central and Eastern Europe.
Source: Wachovia Corp.
Website: http://www.wachovia.com/

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