As head of European Fixed Income, Bajpai will have direct management responsibility for all European fixed income origination and distribution activities.
Bajpai will report jointly to Steve Cummings, head of the Corporate and Investment Bank, and Curtis Arledge, head of Fixed Income. He will join the Corporate and Investment Banking group Operating Committee as well as the Fixed Income Division Management Committee.
“I’m pleased that Atul has decided to join Wachovia to help lead our effort in Europe,” Cummings said. “He has a proven track record of building successful businesses and shares our vision for how we can leverage our existing platform and mine new opportunities in the European market. I feel confident that his on-the-ground leadership will be a tremendous asset to our firm.”
Bajpai joins Wachovia from Dresdner Kleinwort Wasserstein, where he was managing director and global head of Debt Principal Finance, Asset-Backed Conduits and Securitization. He spearheaded Dresdner’s push into the Debt Principal Finance business, building a market leading franchise and providing debt for transactions across numerous asset classes. He also started Dresdner’s drive to provide leveraged facilities for Europe’s leading mezzanine funds.
Before joining Dresdner in 2001, Bajpai spent 11 years at Lehman Brothers where he was European head of Principal Finance, Securitization, and Asset-Backed Securities Trading and Syndicate. Bajpai began his career at Goldman Sachs in Fixed Income Strategies and has a cumulative 18 years of experience in fixed income.
“We are very excited to have Atul join our team,” said Arledge. “His deep knowledge and experience in the fixed income industry combined with his entrepreneurial spirit make him an ideal leader to continue the growth of our businesses in Europe.”
About Wachovia’s Corporate and Investment Banking Group
Wachovia’s Corporate and Investment Banking group offers a full suite of products and services to public and private companies, institutional investors, financial institutions and the financial sponsor community. Investment banking and the global markets businesses (fixed income, equities, and research) operate under the Wachovia Securities’ brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring, research and execution services. Wachovia’s Corporate and Investment Bank also includes the 3rd largest Treasury Services business in the U.S. as well as leading asset-based lending and global correspondent banking services. The firm is built on a cohesive culture that encourages creative ideas, capital solutions, and experienced advice to all clients.
Wachovia Securities is the trade name for the corporate, investment banking, capital markets and securities research businesses of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC (WCM) and Wachovia Securities International Limited, which is authorized and regulated by The Financial Services Authority in the United Kingdom. Wachovia Securities is also the trade name for the retail brokerage businesses of WCM’s affiliates, Wachovia Securities, LLC, Wachovia Securities Financial Networks, LLC, Wexford Clearing, LLC, and First Clearing, LLC.
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 $520.8 billion, market capitalization of $82.3 billion and stockholders’ equity of $47.6 billion at December 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve more than 13 million household and business relationships primarily through 3,131 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 719 offices in 49 states, Washington, D.C., and six 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.
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