Word: wachovia
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...economic resurgence has been financed largely by money from the North, but that situation is gradually changing. Among the strongest challenges to the North's dominance of Southern finance is an institution revered by Southerners but little known to most other Americans: North Carolina's Wachovia Bank & Trust. Situated in the South's most highly industrialized state, Wachovia (pronounced Wah-ko-via) is the biggest bank between Phila delphia and Dallas, serves 37 of the nation's 50 major corporations. Though still fairly small by Northern standards -it ranks 38th among all U.S. banks - Wachovia...
Less obvious but more pervasive was the university's effect upon the state's business community, dominated by Chapel Hill alumni. Under the watchful eye of a benign oligarchy (R. J. Reynolds Tobacco Co., Wachovia Bank & Trust Co., Duke Power Co. and the "textile aristocracy"), North Carolina has been developed with uncommon imagination. Business leaders have endowed well-paid professorial chairs, set up string-free foundations, protected professors back at the alma mater from the political censorship common to state-supported Southern schools...
...years small-town bankers have badgered their big-city brothers for more rural A. B. A. presidents. This year they got their candy. Wachovia is a small-town bank. But no hayseed is Wachovia's able President Hanes. As much at home in Wall Street as in Winston-Salem, he is a big-city banker in a small town...
...dried is the election of A. B. A. presidents. Anything but cut-&-dried is its newest one, Robert March Hanes, 49, president of Winston-Salem, N. C.'s Wachovia Bank & Trust Co. (largest bank between Washington and Atlanta; deposits: $91,000,000). Fond of quail shooting, lively parties, buzzing about, he has sat in both General Assembly and Senate of his State Legislature. For years he rode a motorcycle to the bank every day. Once it got away from him, ripped through his wife's pet flower bed. Evaded he: "Mildred, some damn fool has torn up your...
...Cabell, Armour & Co.; President Charles A. Cannon, Cannon Mills Co.; Chairman Walter J. Cummings, Continental Illinois National Bank & Trust Co.; President Edward D. Duffield, Prudential Insurance Co. of America; Chairman Frederick H. Ecker, Metropolitan Life Insurance Co.; President John M. Franklin, International Mercantile Marine Co.; President Robert M. Hanes, Wachovia Bank & Trust Co.; President Robert Wood Johnson, Johnson & Johnson; President Sydney G. McAllister,International Harvester Co.; President Thomas I. Parkinson, Equitable Life Assurance Society; Chairman William C. Potter, Guaranty Trust Co.; Chairman S. Clay Williams, R. J. Reynolds Tobacco Co.; Chairman Clarence M. Woolley, American Radiator and Standard Sanitary Corp...