The businesses left under Wachovia's wing may not stay independent in the future, Reuters reports.

Robert Ellis, an analyst at Celent, thinks that with all the consolidation moving in the opposite direction of what the new company will look like, the new company may not be able to compete effectively.

An unnamed investment banker told the news service that his firm is certainly keeping Evergreen Investments in mind in case some of its clients fancy asset management businesses.

If a deal were to occur, UBS analysts put the possible value at between $10 billion and $21 billion. The unnamed banker estimated that Evergreen alone could fetch about $1 billion to $2 billion.  

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