PRESS RELEASES

Media Contact: Jim Pierpoint
(704) 374-6512

May 09, 2005
Wachovia Names Drew Gross Head of Global Foreign Exchange Group

CHARLOTTE, N.C. - Wachovia announced today that Drew Gross, a veteran banker with broad experience in trading and sales of foreign exchange products and derivatives, has joined the firm as Managing Director, Head of Global Foreign Exchange. Gross will report to Thold Gill, Managing Director and Head of Global Rates in Wachovia's Fixed Income Division.

Gross joined the firm from BNP Paribas in New York, where he headed North American and corporate FX sales, and e-commerce initiatives. Prior to joining BNP, Gross spent nearly seven years at JPMorgan Chase, where he was head of European FX sales in London and head of e-joint ventures for that firm's Investment Banking and Capital Markets Businesses.

"Drew brings exceptionally broad client and marketing experience to bear, with knowledge of domestic and European corporate and institutional clients," Gill said. "He brings to Wachovia the global experience and perspective necessary to drive our Foreign Exchange business forward."

Gross began his career in trading at Drexel Burnham and later joined GAF Corp. as Assistant Treasurer, responsible for FX, interest rate and commodity risk and managing global fixed income portfolios. He also has held senior roles at Swiss Bank in New York and London and in FX sales at Citibank in New York.

Gross, who holds a BSBA from Washington University, St. Louis, has served on the boards of the FXall and Swapswire electronic trading platforms, and FpML, a business information exchange standard for electronic dealing and processing of financial derivatives instruments.

"Drew's unique experience with e-commerce aspects of the business will be particularly valuable as the FX industry continues to evolve through technology," Gill said.

About Wachovia

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $506.8 billion, market capitalization of $80.3 billion and stockholders' equity of $46.5 billion at March 31, 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 3,277 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 693 offices in 49 states and five Latin American countries. Our Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.

Email This Page

Printer Friendly Version