For Wachovia, the deal beefs up its commercial risk management services division, which has been growing since its November 2000 acquisition of Tampa, FL-based DavisBaldwin Inc. Community development finance is among the bank's mix of commercial services.
For HDA, the alliance with Wachovia opens a new revenue growth avenue, giving the firm access to the bank's roster of affluent commercial and individual clients.
"Wachovia brings additional resources to help us achieve the next level of growth," HDA president/CEO John C. Hamilton says in a prepared statement.
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