CHARLOTTE, N.C., June 27 /PRNewswire-FirstCall/ -- Wachovia Corporation
announced today that it has named Theresa LaPlaca chief financial officer
of the company's Capital Management Group.
LaPlaca has spent the past four years as chief financial officer for
the division's Retirement and Investment Products Group and a member of its
senior management team, where she helped formulate Wachovia's retirement
strategy and integrate its retirement businesses into a single, dedicated
organization to provide retirement services to clients across the Wachovia
franchise.
Prior to joining Wachovia, LaPlaca was the chief financial officer of
the Retirement Services Division at CitiStreet and held senior financial
roles at The Copeland Companies.
In her new role, LaPlaca will oversee all finance operations for the
Capital Management Group, including retail brokerage, asset management and
retirement services. She will play an integral role driving strategy across
all CMG businesses. She will report to David Carroll, president of the
Capital Management Group, and will work closely with Thomas Wurtz, chief
financial officer for Wachovia Corporation.
"Theresa is a thoughtful, engaging and challenging leader who has a
deep knowledge of our businesses and a demonstrated ability to partner
across the organization," said Carroll. "We are delighted she will be
taking on this role at an important time for our company and our division,
as we complete our merger with A.G. Edwards."
"The Capital Management Group businesses are becoming more and more
important to Wachovia," said LaPlaca. "I am pleased to be able to take on
additional responsibilities with a group that provides such important
advice, guidance, and services to retail and institutional investors."
Wachovia's Capital Management Group includes its retail brokerage arm,
Wachovia Securities, the nation's third largest full service brokerage
firm; its asset management firm, Evergreen Investments; and its Retirement
and Investment Products Group, which includes its institutional retirement
plan business, Wachovia Retirement Services. It has more than 25,000
employees located in offices throughout the United States serving retail
and institutional clients. In 2007, the division had revenues of more than
$7 billion and pre-tax income of more than $1.75 billion.
Wachovia Corporation (NYSE: WB) 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 customers
through 3,300 retail financial centers in 21 states from Connecticut to
Florida and west to Texas and California, and nationwide retail brokerage,
mortgage lending and auto finance businesses. Globally, clients are served
in selected corporate and institutional sectors and through more than 40
international offices. The retail brokerage operations under the Wachovia
Securities brand name manage more than $1.1 trillion in client assets
through 18,600 registered representatives in 1,500 offices nationwide.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
CONTACT:
Media Contact: Amy Hyland Jones,
+1-704-383-4995, Investor Contact: Alice Lehman, +1-704-374-4139,
both of Wachovia Corporation
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