[Source: Chris Casacchia, Phoenix Business Journal] — Wachovia Corp.’s major expansion plans in the Phoenix market could be derailed as a result of its sale of its banking operations to Citigroup Inc. In May, the Phoenix Business Journal reported that the nation’s fourth largest bank planned to open seven branches here by the end of this month. A year ago, the embattled company, which has lost billions of dollars in the last two quarters and ousted its CEO in June, announced it would be the anchor tenant in the 600,000-square-foot CityScape office tower in downtown Phoenix.
Wachovia officials say it’s too early to discuss how the merger will affect plans in Arizona. “It’s too early for us to comment on how, if at all, our Arizona operations will be affected post-merger. Right now, we are open for business as usual and we remain focused on giving our customers Wachovia’s usual outstanding service,” said Wachovia spokeswoman Aimee Worsley. “At this time, we have no plans to change our commitment to CityScape or our plans to move into our new space.” [Note: To read the full article, click here.]
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