Wachovia seeks out Goldman for guidance
Wachovia has retained Goldman to analyze the loans the bank has in its portfolio, and to evaluate and suggest other alternatives.
Wachovia Corp. of Charlotte, N.C., has hired investment banking giant The Goldman Sachs Group Inc. of New York to offer advice on Wachovia’s loan portfolio.
Wachovia confirmed that the bank has retained Goldman to analyze the loans the bank has in its portfolio, and to evaluate and suggest other alternatives, a spokeswoman told the Associated Press. She declined to comment further on the matter.
Goldman’s call to duty comes only weeks after Wachovia fired its chief executive officer Ken Thompson in the wake of mounting loan debts and a series of gaffes.
President and interim CEO Lanty Smith is searching for a permanent replacement.
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