Interstate/Johnson Lane Inc., the Charlotte, N.C., securities firm being acquired by Wachovia Corp., said it is forming a strategic alliance with Campbell Alliance Group, a medical consulting firm in Raleigh, N.C.
Both Interstate and Campbell said they expect the alliance to enhance their health-care industry services, focusing on pharmaceutical, medical system, and contract research companies.
Wachovia expects to complete its purchase of Interstate in the second quarter. Wachovia, with headquarters in Atlanta and Winston-Salem, N.C., will roll the firm into its section 20 subsidiary, which it established last summer.
The new bank subsidiary, Wachovia Capital Markets, will have two divisions: IJL Wachovia, a retail full-service brokerage, and Wachovia Capital Markets, an investment bank.