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February 03, 2004
Wachovia Securities Hires Christopher Floyd as Part of High Grade Corporate Bond Sales Expansion
CHARLOTTE, N.C. - Wachovia Securities announced today that Christopher Floyd was hired as a Director in high grade corporate bond sales as part of an ongoing expansion of the Credit Products sales team in Wachovia's Fixed Income Division. Floyd will report to Tim Mullins, Managing Director and head of High Grade Sales.
Floyd, 37, spent the past seven years at Morgan Stanley, where he specialized in credit products sales. Prior to that, he was employed by Merrill Lynch and Raymond James in fixed income sales. Before embarking on his Wall Street career, Floyd served for three years in the U.S. Army as an intelligence officer with the 124th Military Intelligence Battalion and the 7th Infantry.
"We're aggressively expanding and improving our distribution platform, and Chris's hire is part of Wachovia's ongoing commitment to provide our investing clients with top tier coverage," Mullins said. "His deep buy-side relationships will allow him to have an immediate impact on our team."
Wachovia's High Grade group nearly doubled its number of lead managed high-grade bond offerings in 2003, building strong momentum in a market that saw total fees drop by 2 percent on a more than 20 percent drop in the number of issuances last year.
"Distribution is just one element of Wachovia's commitment to grow the High Grade platform. We have key hires slated for all areas of our investment grade business as we look to build on 2003's significant momentum with our issuing and investing clients," said Jim Kelligrew, who late last year was named Managing Director and head of the High Grade unit.
Wachovia Securities Credit Products group, part of the Fixed Income Division, provides a full range of debt financing to corporate clients, including high-grade and high-yield corporate bonds, credit default swaps, municipal finance and money market products.
Wachovia Securities Fixed Income Division also provides a full range of interest rate derivatives, structured products and commercial real estate finance, and non-dollar products to corporate clients and institutional investors.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $401 billion, market capitalization of $61 billion and stockholders' equity of $32 billion at Dec. 31, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Its broker-dealer, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
Wachovia Securities is the trade name for (i) the corporate and investment banking services of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC ("WCM"), member NYSE, NASD, SIPC.; and (ii) two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member NASD/SIPC.
Stocks, bonds, mutual funds or other securities offered or sold through Wachovia Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by Wachovia Corporation, WBNA, or any bank; and involve investment risk, including possible loss of principal.
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