(Reuters) - NEW YORK, June 15 - Wachovia Corp. is offering retention awards to A.G. Edwards Inc. brokers equal to as much as 100 percent of the revenue they generated in the prior year, in a bid to limit defections ahead of its planned $6.8 billion purchase of the St. Louis brokerage.
The fourth-largest U.S. bank is hoping to lose no more than 3 percent of brokers it wants to keep, similar to the "regretted attrition" in 2003 when it created Wachovia Securities by merging its brokerage with that of Prudential Financial Inc. .
Read more at Reuters.com Mergers News
The fourth-largest U.S. bank is hoping to lose no more than 3 percent of brokers it wants to keep, similar to the "regretted attrition" in 2003 when it created Wachovia Securities by merging its brokerage with that of Prudential Financial Inc. .
Read more at Reuters.com Mergers News
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