1st Quarter 1998

After a considerable hiatus about which some observers were critical, the directors of Wachovia Corp. now are pursuing an aggressive growth strategy—making the Winston-Salem bank a formidable competitor in the M&A game.

The days of lofty talk about investing in technology are over. Today’s make-or-break decisions require a detailed technology plan and sound judgment by the board to ensure the bank’s competitive position.

Sustaining record earnings, capitalizing on rapid consolidation, and preparing for commoditization of financial services are banking’s future challenges.

At first glance, the merging of traditional commercial banks and go-go investment banking firms appears to be a convergence of polar opposites. But the record number of such deals in 1997 proves there’s real magnetism pulling these institutions together.