Wachovia Corp. agreed to acquire Metropolitan West Securities, a firm...

Wachovia Corp. agreed to acquire Metropolitan West Securities, a firm specializing in third-party agent securities lending and short-term fixed-income asset management, according to a press release from Wachovia. Terms were not disclosed; the transaction is expected to close in January. MetWest's management team and employees will operate under its current name. MetWest had more than $50 billion of securities on loan as of Sept. 30.