Robert Steel

Wachovia Exits Wholesale Lending Business

It hasn’t even been a month since Wachovia hired Goldman Sachs to evaluate its loan portfolio, and only 11 days since the company hit a 17-year low after its new CEO Robert Steel came on board, but Wachovia has announced that they are closing their wholesale lending channel that serves mortgage brokers. The latest in

Wachovia CEO Robert Steel Enters At Bank’s 17-Year Low Point

BusinessWeek put it best today, pointing out that Wachovia hit a 17-year low just as new CEO Robert Steel starts his $1.1m per year base salary job. Steel has been the Treasury Department’s link with Wall Street since 2006, and is a former Goldman Sachs exec as well. His hire comes about two weeks after