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MBL Closes Deal For Wachovia Unit

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MBL Advisors Holdings L..L.C. announced it has acquired Wachau Insurance Advisors Inc. from Wachovia/Wells Fargo Bank.

Wachovia Bank, Charlotte, N.C. acquired Wachau, formerly known as Barry, Evans, Josephs and Snipes, Inc., in 1999. Wachau provides wealth transfer plans for ultra-high-net-worth individuals as well as corporate and executive benefit plans.

Wachovia itself was acquired by Wells Fargo & Company, San Francisco, in January.

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The name of Wachau was changed upon closing to MBL Advisors Inc.

MBL Advisors used McColl Partners L.L.C., Charlotte, for advice on the transaction.