Wachovia Insurance Services is looking to take its place on the national stage with a major agency acquisition, according to its newly named CEO, Stewart McDowell."Our next step will be a dramatic move toward making Wachovia a national insurance brokerage powerhouse," says McDowell. And this signals a desire to move beyond cross-selling, where it has already been successful, he says, to selling beyond the bank's customer base.
"We have a very healthy appetite to grow the insurance business dramatically, and the way you do that is through acquisitions," McDowell says, adding that the Charlotte, N.C.-based company is specifically looking for big acquisitions.
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