Wachovia's Commitment to the Future
"The decision to construct a new building affirms our long-stnnding commitment to W inston-Salem and
\orth ( arolina. II Idle employment in banking is shrinking across the country . 1 1 achoria has significantly
? increased its workforce in Torsyih County since / 9 S,Y. ? ? * ?
John G. Mcdlin Jr.
Chief Executive Officer ?
Wachovia Corporation
Over the years. Wachovia has quietly made its impression
on Winston-Salem and Forsyth County in thousands of tangible
and intangible ways. From partnering with the local schools, to
providing home loans to those who had never been able to
quality tor home ownership, to financing the growth of local
companies. Wachovia has met and often times exceeded the
expectations of good corporate citizenship. ~ ~~ ~~ * *
Wachovia has left its mark on Forsyth County in a more
literal sense, through modern banking facilities exemplified by
the new Thruway Banking Center, a prototype for banking in
the 2 1st century. And early next year. Wachovia will begin a
new chapter in its commitment to
the future of this community, when
it breaks ground on a new $60
million headquarters building in
downtown Winston-Salem.
'This is our home and that word
has special meaning to each of us
in a personal sense." says L.M.
"Bud" Baker Jr.. president and ;
chief operating officer of Wachovia
Corporation. "It also has special
meaning to organizations like
Wachovia. Loyalty, honor and ex
cellence are all values that mean
something to us; they represent
real standards, standards that we
live by. 1 think we use the word
home in the same fashion.
"Winston-Salem and Forsyth
County have been Wachovia' s home
since our founding." Baker contin
ued. "Our commitment to this com
munity has never wavered. The an
nouncement of our new headquar
ters building attests to that, and is a
logical outgrowth of what we have
always d<5ne here."
In 1985, Wachovia merged with
First National Bank of Atlanta and
with South Carolina National Bank
in 199 L Since those mergers. Baker
derivative of the German word "Wachau" ("Wach" for stream
and "au" for meadow land).
The three communities ? Bethabara, Bethania and
Salem ? grew and prospered and in 1849. the N.C. General
Assembly divided wnat was then Stokes County into northern
and southern regions and named the southern region Forsyth
County*. The town of Winston, less than one mile northof Salem,
was selected as the county seat and quickly- grew_intQ_a center
of commerce and manufacturing.
By the 1880s. Winston and Salem constituted the state's
largest urban area and trade center, due to the pair's strategic
growth. Baker said the company never gave any thought to the
prospect of moving away from Winston-Salem. 'The location
of the building continues a tradition begun in 1879," Baker said.
"The headquarters of Wachovia Bank has never been more than
a block from its original location on Main Street.
"Our office requirements have changed considerably over
the 27 years we have occupied the current building, and we are
pleased to begin planning for an updated facility which will
serve both Wachovia and the community well," Baker said.
Wachovia will leave its glass-box headquarters in 1995
and move about a block south on Main Street to a new structure
thai is being designed by Cesar Pclli.
former dean of Yale University
School of Architecture, and his firm
in New Haven, Conn. The building
will rise 28 stories from what is now
a surface parking lot opposite
Winston-Salem's City Hall.
. "We are pleased to have Cesar
Pelli & Associates assist us in the
design of our new Winston-Salem
headquarters building,*" Baker said.
'This firm's design philosophy and
commitment to excellence fit well
with Wachovia* s desire for a build
ing which is both noteworthy and
appropriate to the surroundings."
Pelli, who also designed the re
cently completed Worrell Profes
sional Center that now houses Wake
Forest University's graduate busi
ness and law schools, said, "Our
objective is to design for Wachovia a
modem, functional office building
that will fit appropriately in the his
torical architectural environment of
downtown Winston-Salem."
said, the bank's employment has grown in Winston-Salem as
various banking activities were centralized.
Like Wachovia, Forsyth County traces it* beginning to
Moravian settlers who purchased 1 ,000 acres of land from Lord
Granville in 1 753, one of the English Lord proprietors of
North Carolina. Three well-planned communities soon
developed on the land that was named "Wachovia." a Latin
location on the east-west plank road. Soon the railroad would
arrive and the two towns were consolidated in 1913.
By then, WaehoviaBankcouWlraceitsTootsback 34years
to the opening of the old Wachovia National Bank, and later, the
separate Wachovia Loan and Trust Company. The two had
merged in 1911. two years before the towns.
When it came tirtie to decide about future headquarters
V
The new building's design will
be unveiled in early fall. Mean
while, Baker said, "a lot of thought
is being given to the building's sur
roundings. We are thinking about
Old Salem. We are thinking about Winston-Salem. We are
thinking about the character of our company Th*?rp\ nn
aftemprhere foTnffld a monument to anyone."
The new building will contain approximately 600,000
square feet, and will be home to about 1 , 1 (X) Wachovia employ
ees who will move from the current headquarters building atx
Fourth and Main streets.
^ACHOMA