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Article: Wachovia is poised to grow dealer business.(Wachovia Dealer Services)(Interview)
- Article from:
- Automotive News
- Article date:
- May 4, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite the auto industry's deep recession, Tom Wolfe of Wachovia Dealer Services is overseeing a growing operation.
After Wells Fargo completed its acquisition of Wachovia, the company named Wolfe president of its combined automotive loan business.
Wachovia Dealer Services runs the combined companies' indirect lending business, which makes retail loans to consumers through referrals from dealerships. It also oversees commercial lending for car dealerships.
The merger places Wachovia neck and neck with Chase Auto Finance, which has long been the largest noncaptive auto lender. Wolfe spoke with Staff Reporter Donna Harris about the merger's ...