“We are excited to welcome Brian and Thom to Wachovia's Financial Sponsors Group,” said Weiss. “Each has developed a significant track record covering private equity firms and brings important relationship building capabilities and deal skills to our practice. We are pleased they have decided to begin a new chapter in their careers at Wachovia.”
Van Elslander joined Wachovia Securities on June 26 after seven years at Credit Suisse, where he was a managing director in the Financial Sponsors Group. From 2001 to 2005, he worked in the firm's London office with responsibility for covering European financial sponsors. From 1999 to 2001, Van Elslander worked in Credit Suisse First Boston's (CSFB) European Leveraged Finance Origination Group, where he managed teams and advised corporate and sponsor clients on their strategic financing needs. Prior to joining CSFB, he spent six years at JP Morgan & Co. in the firm's Leveraged Finance and Capital Markets Groups. Van Elslander is a graduate of Michigan State University and has an M.B.A. from the University of Chicago.
Krauss will join the firm after eight years in the Financial Sponsors Group at Deutsche Bank. At Deutsche, he acquired significant experience and was successful in covering a number of sponsor groups, largely concentrating on consumer, industrial and media portfolio companies. Before joining Deutsche, Krauss worked for three years at Merrill Lynch and Dean Witter in their respective private client businesses in Dallas. Krauss is a graduate of Texas A & M University and has an M.B.A from Cornell University.
Wachovia Securities Investment Banking practice provides a complete range of financing and advisory services to financial sponsor groups and corporate clients through eight industry groups: Consumer and Retail, Energy and Power, Financial Institutions, Healthcare, Industrial Growth, Media and Communications, Real Estate and Technology.
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. 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.
Wachovia Capital Markets, LLC, is a U.S. broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the New York Stock Exchange, the National Association of Securities Dealers, Inc., and the Securities Investor Protection Corp. Wachovia Securities International Limited is a U.K. incorporated investment firm authorized and regulated by the Financial Services Authority.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia operates as Wachovia Bank through 3,159 offices in 16 states from Connecticut to Florida and west to Texas, and, until merger integration activity is completed, will continue to be known as Western Financial Bank in California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. Wachovia had assets of $541.8 billion, market capitalization of $90.2 billion and stockholders' equity of $49.8 billion at March 31, 2006.
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