Answers From Chief Financial Officer Of Wells Fargo, Concerning Wachovia

ATLANTA, GEORGIA -

Wells Fargo is the second largest bank that is currently doing business in downtown Atlanta, and as such it is about to under go a huge transition period. By this time next month, Wachovia will branch out and the infamous town located in Atlantic Station will soon carry the the Wells Fargo & Company Name.

Atlanta is one of the final areas that will be converted to display the company name. When businesses consolidate, it is not unusual for some jobs to be lost. However, with this merger with the Wells Fargo Company there were jobs to be filled. In fact, it is estimated that over five hundred new jobs will need to be filled.

Wells Fargo began with the branches in which Wachovia had on the west coast, then slowly moved to states that were overlapped between the two. Now, they are dealing with branches that were standing off by themselves.

They feel as if everything is on schedule and is at lower cost than they first expected. When the deal was first announced at the end of 2008 it was thought they would have to spend around eight billion dollars on systems conversions. However, it now looks as that number will be less than six billion.

It is estimated that throughout this process that their will be some hiring and they are looking for individuals who are interested in Wells Fargo. The simple logic is that salespeople equals revenue, which means you have to hire salespeople in order to keep productive and bring in more business.

The economy could be characterized as saying we are in the middle of a recovery. Even if we are going from one quarter to the next and in only some parts of the United States.