Wachovia Corporation has apologized for its past ties to the institution of slavery after a historical research of its past corporate acquisitions uncovered ownership of slaves by its predecessor companies.
Since its recent acquisition of the Palmer & Cay Charlotte, N.C.-based brokerage, Wachovia is among the nation's top ten insurance brokerage firms.
Wachovia said it recently commissioned a research firm to conduct a search of its predecessor institutions. The investigation discovered that two institutions–the Georgia Railroad and Banking Company and the Bank of Charleston, which eventually became a part of Wachovia–owned slaves.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.