CHARLOTTE, N.C., Sept. 8 /PRNewswire-FirstCall/ -- Wachovia today named
David K. Zwiener, 54, chief financial officer. He will join the company on
Oct. 1. Zwiener has more than 30 years of experience in the financial
services industry and most recently was managing director and co-head of
the Financial Institutions Group at The Carlyle Group. Zwiener will report
to Wachovia President and CEO Robert K. Steel.
"David's experience and many talents have enabled him to become a
strong and proven leader in the financial services industry," said Steel.
"We believe he is exactly the right candidate to serve as CFO, with a
diverse background that reflects sound business leadership, finance and
operations experience and the ability to manage complex businesses for
profitability. We are extremely pleased that an individual with David's
expertise and talent, high level of integrity and commitment to teamwork is
joining Wachovia. We have confidence in his ability to contribute greatly
to Wachovia's future success."
As CFO, Zwiener has leadership responsibility for treasury management
and planning, financial reporting, budgeting, investor relations, taxation,
real estate operations and purchasing. In addition, Wachovia's Operations
and Technology division, led by Jerry Enos, will report to Zwiener.
"I am honored to have the opportunity to join Wachovia as CFO," Zwiener
said. "The management team has an excellent plan in place to address the
firm's challenges and has already made good progress. The core businesses
are strong and continue to perform well. Wachovia has enormous potential,
and I am excited to be part of the team working to restore confidence and
value for shareholders."
Zwiener has a long and distinguished career in the financial services
industry. As managing director at The Carlyle Group, he focused on global
opportunities in the financial services sector. Prior to this role, he
worked at The Hartford Financial Services Group, where he served as
president and chief operating officer of property and casualty operations
and as executive vice president and chief financial officer. He worked at
Hartford from 1995 through 2007 and also served as a member of the
company's board of directors. Prior to joining Hartford, Zwiener served for
two years as chief financial officer and executive vice president of ITT
Financial Corporation in St. Louis. At ITT, he was responsible for all
finance and systems operations, and he played a key role in the sale of ITT
Financial. Previously, Zwiener worked for six years at Heller International
Corp., the commercial finance subsidiary of Fuji Bank, Ltd., first as
senior vice president and treasurer and later as executive vice president
of capital markets. From 1984 through 1987, he was assistant treasurer of
international operations for Kimberly Clark. He also worked at Mellon Bank
in credit and cash management roles and at Ford Motor Corporation in
various financial positions.
Zwiener received a master's in business administration with
concentrations in finance and marketing from Northwestern University and a
bachelor's degree from Duke University.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $812.4 billion and
market capitalization of $33.5 billion at June 30, 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. Our retail brokerage operations under the Wachovia
Securities brand name manage more than $1.1 trillion in client assets
through 14,600 financial advisors in 1,500 offices nationwide. Online
banking is available at wachovia.com; online brokerage products and
services at wachoviasec.com; and investment products and services at
evergreeninvestments.com.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
CONTACT:
Media: Mary Eshet, +1-704-383-7777, Christy
Phillips-Brown, +1-704-383-8178, or Investors: Alice Lehman,
+1-704-374-4139, Ellen Taylor, +1-212-214-1904, all of Wachovia
Corporation
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