When Wells Fargo snatched Wachovia away from Citigroup, it seemed like quite a coup. But then the real pain set in, and right now people aren't so sure that was the best thing. Wachovia's biggest draw was its massive base of retail deposits. Wells Fargo, however, seems much less enamored with other parts of the company.

The New York Post reports that many feel Wells Fargo will now stick with Wachovia's Evergreen Investments, a money management firm. The bank also seems willing to stick with Wachovia Securities, given that wealth management has emerged as one of the most desirable businesses. The big loser seems to be Wachovia's not-prime-time investment banking unit. Wells Fargo has been scaling it back, and the paper says it will likely continue to do so. 

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