Wachovia Corp. will next week convert its London representative office into a branch after approval from the Bank of England and the Federal Reserve Board.

The $48.5 billion-asset superregional bank said the London branch will allow it to provide a broader array of corporate banking services to companies doing business in Europe, including foreign-currency loans, deposit services, capital markets products, foreign exchange, and investment services.

Wachovia added that opening the branch is part of a broader strategy to expand international banking services for corporate clients. Wachovia operates representative offices in Tokyo, Hong Kong, and Sao Paulo, and a branch in Grand Cayman..

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