New York Industry Veterans to lead Northeast Market and National Sales
CHARLOTTE, N.C., May 28 /PRNewswire-FirstCall/ -- Wachovia, the
eighth-largest U.S. wealth manager, has named John M. Dowd, an executive
with more than 20 years of experience in wealth management, as wealth
management director for Wachovia Wealth Management's Northeast Region. In
addition, Thomas F. Scaturro, an executive with more than 20 years of
experience in wealth management, has been named to the newly created
position of national sales director for Wachovia Wealth Management. Both
executives will serve in the niche market for clients with $10 million in
net worth or more than $5 million in investable assets. They begin their
roles with Wachovia June 2.
Dowd comes to Wachovia from BNY Mellon Wealth Management, where he
served as head of the Tri-state region with responsibility for the firm's
management portfolio teams, sales and banking. Prior to the merger between
Bank of New York and Mellon, Dowd served as Bank of New York's head of the
private bank and chief trust officer, overseeing all wealth management
business, including personal investment management, domestic and
international private banking, personal trust and custody services, and
high-net-worth brokerage.
Scaturro also comes to Wachovia from BNY Mellon Wealth Management,
where he served as managing director and head of sales for the firm's
Tri-state region. Prior to the merger, Scaturro was responsible for
business development, training and product development for the firm's
private bank. He also served on the board of directors for the Bank of New
York Trust Company, N.A. Scaturro began his career with Chase Manhattan
serving as a client advisor for high-net-worth clients.
Wachovia will divide its Northeast Region in two, with New York,
Connecticut and Northern New Jersey led by Dowd, while Antoinette "Toni"
Cooper will continue to lead the other half of the region, including
Southern New Jersey, Boston, Pennsylvania and Delaware. Dowd, Scaturro and
Cooper will report to Stan Gregor, president of Wachovia Wealth
Management's Wealth Market's Group.
"Hiring two industry veterans with the leadership caliber of John Dowd
and Tom Scaturro, to complement our strong leadership team, demonstrates
our commitment to significantly expand our presence in the Northeast, and
further reinforce our goal to be one of the preeminent leaders in the
ultra-high-net-worth space," Gregor said. "With the backing of the nation's
fourth largest bank, an award winning investment management platform and
Wachovia's leading reputation in client service and loyalty, we have an
exceptional opportunity to continue to win new market share."
"Wachovia Wealth Management has fast become a top competitor in a very
competitive market," said Dowd. "This is a firm with one of the most
comprehensive and client focused wealth management platforms in our
industry, from a wide array of services to highly regarded professionals."
"Wachovia is emerging as a top national wealth firm, and we have an
incredible opportunity to build on the company's leading reputation in
client service and loyalty," Scaturro said. "I believe we can leverage that
success to build market share across the entire footprint. I look forward
to leading that process and being a part of such a robust client offering."
Since opening its New York City office in 2003, Wachovia Wealth
Management has been recognized in the industry for its unique approach in
integrating its trust and investment Platforms and was named "2007 High Net
Worth Leader of the Year" by Private Asset Management, a publication of
Institutional Investor.
A graduate of Princeton University, Cooper joined Wachovia in 1994 and
has consistently led her region as a top performer. She is a board member
of the Alvin Ailey Foundation, served as Co-chair for the National
Conference for Black Philanthropy and is a member of the Princeton Alumni
Schools Committee.
A graduate of Guilford College with a master's degree in business
administration from Columbia University, Dowd is a member of the executive
committee of the New York Bankers Association, and a board member of Junior
Achievement of New Jersey and the Senior Care and Activities Center.
A graduate of St. Johns University with a degree in finance, Scaturro
served as a development director for a division of Catholic Charities
benefiting at risk youth.
ABOUT WACHOVIA
Wachovia Corporation (NYSE: WB) is the 8th largest wealth manager in
the country, according to Barron's 2007 ranking of U.S. Wealth Managers.
Wachovia is one of the nation's largest diversified financial services
companies, with assets of $808.9 billion and market capitalization of $53.8
billion at March 31, 2008. Wachovia provides a broad range of retail
banking and brokerage, asset and wealth management, and corporate and
investment banking products and services to 13 million household and
business customers.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
CONTACT:
Vince Scanlon of Wachovia Corporation,
+1-336-732-6387
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