Klenke will serve as a managing director in the Equity Derivatives business, joining the Equity Structured Products Group. He will report to Richard Sandulli and Richard Silva, global co-heads of Equity Structured Products.
Cohen has joined the firm as a managing director in the Cash Equity Trading business. He will oversee trading in the financial sector and report to Peter Gunderson, head of Cash Equity Trading.
Prior to joining Wachovia, Klenke was a managing director at UBS Securities, Bank of America and Merrill Lynch, where he managed the institutional options business. Most recently, he was a managing director at Knight Equity Markets, where he performed similar duties.
Cohen previously spent 28 years with Prudential Securities, holding a number of senior positions within equity trading, most recently as a managing director running Listed and NASDAQ Trading.
"Kevin and Scott each have over two decades of industry experience and bring a wealth of product knowledge and institutional relationships to Wachovia's Equity platform," said Quinten Stevens, managing director and head of the Equity division. "We are excited to have them both join our team as we continue to expand our Derivatives and Cash Trading businesses."
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 and equities) operate under the Wachovia Securities brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring 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 and capital markets 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 nation's largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. Wachovia has retail and commercial banking operations in 21 states with 3,375 retail banking offices from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage with 742 offices in 49 states and nine service affiliate offices in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 states and auto finance covering 46 states. 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. At December 31, 2006, Wachovia had assets of $707 billion and market capitalization of $108 billion.
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