More on Wachovia's deal for AG Edwards

In hindsight, it seems like AG Edwards was there for the taking. A solid retail brokerage arm with a decent brand name, it seems like it would have dovetailed nicely with a host of banks. Wachovia expected the $7 billion merger to close in the fourth quarter. The key to costs will be the integration, which is expected to be completed by the end of the first quarter of 2009. We've seen some not-so-great attempts to meld a large brokerage firm into a larger bank. I'm thinking of Dean Witter and Morgan Stanley. But in this case, the two larger cultures seem much more in tune. But you never know. The deal will create the second largest retail brokerage, after Merrill Lynch. So it will have size going for it. Hopefully, it will create some synergies.

For more:
- here's a MarketWatch article
- Are other small brokerages targets? Article

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