NEW YORK, May 19 /PRNewswire/ -- TheMarkets.com, a leading provider of research, estimates and workflow solutions to the buy-side, announced today that Wachovia Securities has joined other leading sell-side firms to include TheMarkets.com's broker vote platform, MeritMark, in its service offering to clients. Clients of Wachovia Securities can now provide feedback through the only web-based broker evaluation program designed by and for institutional investors and sponsored by a growing consortium of brokers.
Buy-side participants in MeritMark fill out a single survey to evaluate multiple brokers across the spectrum of sell-side personnel and services. Currently deployed at buy-side firms around the world, the web-based platform is customizable to the requirements of every client firm and is scalable across office locations, with no consulting fees. MeritMark, on delivery to the user, is pre-populated with data for nearly 700 brokers, independent research firms and service providers, and over 16,000 professionals at these firms.
"We are thrilled that Wachovia Securities has chosen to join our network of brokers taking the lead to serve the buy-side better," said Bryan Lewis, General Manager of MeritMark. "TheMarkets.com has, from its inception, been dedicated to creating new efficiencies in the relationship between the buy- and sell-sides. MeritMark is a critical part of that mandate, and one that an increasing number of brokers are enlisting to build their service to the buy- side. As it joins this group of dedicated brokers, Wachovia Securities becomes part of a leading community dedicated to serving the buy-side better."
The growing list of brokers collecting votes through MeritMark includes Bank of America, Bear Stearns, Citi, Credit Suisse, Deutsche Bank, Dresdner Kleinwort, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS Investment Bank and Wachovia Securities.
About MeritMark and TheMarkets.com
MeritMark is the broker vote standard developed by institutional investors, leading investment banks and TheMarkets.com. TheMarkets.com is a leading provider of research and estimates services to over 2000 institutional investment management firms worldwide. TheMarkets.com is owned by: Banc of America Securities, LLC (NYSE:BAC), Citi (NYSE:C), Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), Dresdner Kleinwort, part of Dresdner Bank AG and a member of the Allianz Group (NYSE:AZ), The Goldman Sachs Group (NYSE:GS), JPMorgan Chase (NYSE:JPM), Lehman Brothers (NYSE:LEH), Merrill Lynch (NYSE:MER), Morgan Stanley (NYSE:MS), UBS Investment Bank (NYSE:UBS), and Reuters (NASDAQ:RTRSY) . In addition to the founding investment banks of TheMarkets.com, MeritMark is also sponsored by Bear Stearns (NYSE:BSC) and Wachovia Corporation (NYSE:WB). For more information, visit www.TheMarkets.com or www.MeritMark.com.
About Wachovia Corporation
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $808.9 billion and market capitalization of $53.8 billion at March 31, 2008. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,300 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $1.1 trillion in client assets through 18,600 registered representatives in 1,500 offices nationwide.
Press Contact Jasmine Swann TheMarkets.com +1 212-812-4631 jswann@TheMarkets.com