Wells Fargo & Co. announced this week that another major step in its merger with Wachovia Corp. is now complete. The companies consolidated over the weekend to form one investment bank, Wells Fargo Securities, and one commercial bank, Wells Fargo Bank NA.

A press release called the consolidation “a big milestone for our merger,” which began in January 2009. In addition, it confirmed three major hires intended to beef up the public finance team.

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