On the Web
Wells Fargo & Co. executives began blogging on the San Francisco company's Web site last week with the declared intent of detailing how its acquisition of Wachovia Corp. will affect customers.To date the posts have been devoid of juicy details.
John Stumpf, Wells' chief executive, kicked off the blog by writing that customers should view it as a place to go for "news and information" about the purchase. He invited them to "join the conversation" by submitting their own posts, but reader feedback has yet to gain momentum.
The Wells staff bloggers include corporate communications specialist Matt Wadley, who wrote in his first installment: "Now I know some of you may see 'Corporate Communications' and think: 'Puh-leeze! Blogs are supposed to be about informal conversation, not just another channel for company press releases!' Well, I couldn't agree more." Mr. Wadley then touched on the inevitable uncertainties that come with any purchase but then wrote, "Worry not — there are a bunch of Wells Fargo and Wachovia team members in your communities all over the U.S. ready to help make sure the transition goes smoothly!"
The blog can be found at http://blog.wellsfargo.com/wachovia.
Edward Greene, general counsel of Citigroup Inc.'s institutional clients group, is leaving the New York company to return to his former law firm next month."My time at Citi was both rewarding and deeply satisfying," Mr. Greene said in a press release Thursday. However, "I am very pleased to be returning to the private practice of law."
Mr. Greene will rejoin Cleary Gottlieb Steen & Hamilton LLP, where he will focus on securities, corporate governance, and regulatory and financial services reform. Until joining Citi in 2004, he had worked at the New York firm for 22 years.
For the second year in a row, Forbes named Hudson City Bancorp Inc. of Paramus, N.J., as the best-managed bank in America.In its Dec. 22 issue, the magazine cited Hudson City's earnings performance last year and over the past five years.
"In good times, it's hard to pick a winner, but when things are rough, it's pretty easy to pick a winner," Ronald Hermance Jr., Hudson City's chairman, president, and chief executive, said in an interview this week. The $51.8 billion-asset company is on track to post record earnings for the 10th straight year, Mr. Hermance said.
Forbes also included Hudson City on its "Platinum 400" list of the nation's best big companies. It was the only bank on the list also named one of the best recession stocks.