WINSTON-SALEM, N.C. - Wachovia Corp. said it entered into an alliance with Boston Equiserve to provide stock transfer processing services for customers.
Wachovia said the alliance will provide image processing capabilities and expanded product offerings beginning in the second quarter of 1996.
Bank officials said Wachovia will continue as transfer agent and maintain all contact with clients and their shareholders.
Boston Equiserve, Canton, Mass., a transfer agent, is a jointly owned unit of Bank of Boston Corp. and Boston Financial Data Services.
In an unrelated move, Bank of New York Co. signed a definitive agreement to acquire the bond trustee business of Wachovia Bank of North Carolina, Wachovia Bank of South Carolina, and Wachovia Bank of Georgia, all units of Wachovia Corp.
Terms were not disclosed.
Bank of New York said the transaction is expected to be completed during the second quarter of 1996 and will add to earnings immediately.
The acquisition involves the transfer of about 1,600 bond trustee and agency appointments for corporate and municipal issuers primarily in North Carolina, South Carolina, and Georgia.