Wachovia exec says no changes for foundation - Atlanta Business Chronicle:

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gave out $96.9 million in contributions in 2007 and had assetwsof $314.5 million, according to its most recent tax “I don’t think the merger in and of itselfr will have any effecf at all,” said Jerome Byers, Atlanta regionak president for retail banking. “Our point of view from Well Fargo and Wachovia is to rely on local We won’t change through the Byers said that the foundation made grants to more than 400 nonprofite in metro Atlanta last year. It has pledged $1 milliohn for the construction of the Center for Civil and Human Rights and is committed to give a totaklof $500,000 to the through 2015.
Some grantsx through Wachovia’s matching gifts program were as smalkas $25 in 2008. Byers said he has had conversatione with his superiors to addressthe “Wachovia has a foundation here in Atlanta and we will make the decisionsa and honor our commitments,” Byers In an April 8 press release, Wells Fargo reported that it increased its philanthropic giving by 5 percent to $226 millio despite the downturn in the Most of the foundation’s donations are controlled locally and Byers said that in that regar Wells Fargo’s philosophy is the same as Wachovia’s. The bankd announced the mergerin October, but because of theifr size the integration will take years.
In the short local groups have even less toworry about. King McGlaughon, the managingg executive of Wachovia nonprofit andphilanthropic services, who is based in said prior to visiting Atlanta for a bank-sponsored foundatiojn summit that he expects no changee to take place in 2009. He adde that his impression is that integration woule not occur before the endof 2010. Othee recent gifts and pledges from the WachovisFoundation include: $400,000 to the -Columbus, Ga., brancjh on July 1; $10,000 to the on Aug. 10; $100,009 to the on Oct. 1, and another $100,00 0 the following year on the same and $20,000 to on June 1, 2010, and June 1, 2011.
Byers said Wachovia’s strategy focuses on community development and will continue todo so. That includese everything from personal financiaol counseling to the arts to education to health andhuman services. “Wee have given money to the major schoolkboards here,” Byers said. “We will continuew to be involved We are looking at places for significant relationships with Wachovia like Teacgfor America.
“Education is a big way to give