CHARLOTTE, N.C., Nov. 17 /PRNewswire-FirstCall/ -- Wachovia Corp. today
named Steven G. Boehm as president of Wachovia Card Services. He will report
directly to Ben Jenkins, President of Wachovia's General Bank Division. This
decision follows an announcement earlier this month that Wachovia is
terminating its existing joint marketing agreement with MBNA and re-entering
the credit card business as a direct issuer beginning in January 2006.
"Steve has a proven track record in the payment systems industry and an
excellent background in distribution systems and customer satisfaction,"
Jenkins said. "Under his leadership, our contact centers have become an
integral part of our distribution network and are known for providing best-in-
class customer service. I am certain he will do an outstanding job of making
Wachovia Card Services a leader in the credit card industry."
Wachovia, one of the leading retail banking and brokerage businesses,
conducted an in-depth analysis of its credit card business options after the
announcement that Bank of America would acquire MBNA. The company determined
that issuing its own credit cards directly would allow it to ensure that it
continued to provide industry-leading service to its customers and the best
returns to its shareholders.
In addition to his new post, Boehm will continue to serve as Head of
Merger Integration.
Boehm, an executive vice president, has 17 years of experience in the
credit card and payment systems industry, serving in banking, affinity and
association leadership roles. For the past 10 years, he has led Wachovia's
contact center organization. During this time, the organization has become one
of the company's largest in distribution, producing more than $600 million in
revenue in 2005 through telephone and Internet relationship management.
Before leading the contact centers, Boehm was chief operating officer for
the company's previous credit card business, which was sold to MBNA in 2000.
Prior to that, he worked for Visa USA in sales, account management and
technology customer service leadership roles.
Boehm joined Wachovia (then First Union) in 1992. He holds a bachelor's in
business administration from James Madison University and a master's in
business administration from George Mason University. He will be based in
Charlotte, the company's headquarters.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the largest providers of
financial services to retail, brokerage and corporate customers, with banking
operations from Connecticut to Florida and west to Texas, and retail brokerage
operations nationwide. Wachovia had assets of $532.4 billion, market
capitalization of $73.9 billion and stockholders' equity of $46.8 billion at
September 30, 2005. Its four core businesses, the General Bank, Capital
Management, Wealth Management, and the Corporate and Investment Bank, serve 13
million household and business relationships primarily through 3,138 offices
in 15 states and Washington, D.C. Its full-service retail brokerage firm,
Wachovia Securities, LLC, also serves clients through 702 offices in 49 states
and five Latin American countries. The Corporate and Investment Bank serves
clients in selected industries nationwide. Global services are offered through
40 offices around the world. Online banking and brokerage products and
services also are available through Wachovia.com.
SOURCE Wachovia Corporation
 back to top
Related links:
http://www.wachovia.com
CONTACT:
Media, Kevin Bezner, +1-704-374-4331, or
Christy Phillips, +1-704-383-8178, or Investors, Alice Lehman,
+1-704-374-4139, or Jeff Richardson, +1-704-383-8250, or Ellen
Taylor, +1-704-383-1381
|
