Wachovia Corporation has apologized for its past ties to the institution of slavery after a historical research of its past corporate acquisitions uncovered ownership of slaves by its predecessor companies.
Since its recent acquisition of the Palmer & Cay Charlotte, N.C.-based brokerage, Wachovia is among the nation's top ten insurance brokerage firms.
Wachovia said it recently commissioned a research firm to conduct a search of its predecessor institutions. The investigation discovered that two institutions–the Georgia Railroad and Banking Company and the Bank of Charleston, which eventually became a part of Wachovia–owned slaves.
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