Wachovia asset-based group and Congress Financial merge; Davis named group head

By Sara Rosenberg

New York, March 14 - Wachovia's asset based lending business and Congress Financial Corp. have joined to form Wachovia Capital Finance, a group that will be headed by Bill Davis, managing director and head of Congress Financial, according to a company news release.

Davis will report to Wayne Robinson.

"For more than 50 years, the Congress Financial brand has been a pivotal source of financing for companies, and for the past six years, Congress has been an important subsidiary of Wachovia," Robinson said in the release.

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