Schafer has joined as a managing director in the Equity Capital Markets business, initially covering the healthcare industry. She reports to Andy Sanford, managing director and global head of Equity Capital Markets.
Langis will join the firm as a managing director in the Equity Convertible Trading business. He will serve as head of Convertible Trading and will report to Eric Augustyn, managing director and head of Derivatives Trading.
Schafer spent 17 years at JP Morgan, most recently as managing director and Equity Capital Markets industry group leader for the healthcare team. Immediately prior to joining Wachovia, she was vice president of Finance and Business Development at Lexicon Genetics, a biotechnology company. She holds an MBA from Stern Graduate School of Business at New York University.
"Carol has more than a dozen years of experience providing strategic advice to biotech and healthcare companies," said Sanford. "Her deep understanding of the industry and long-standing client relationships make her a valuable addition to our Equity Capital Markets team."
Langis will join Wachovia after six years at TQA Investors, where he served most recently as principal and Senior Portfolio Manager. TQA Investors is a multi-strategy hedge fund with core competencies in global convertible arbitrage, long/short credit, capital structure arbitrage, long/short equity, and event/special situations equities. Prior to TQA Investors, Langis worked at Citigroup in both the domestic and international convertibles groups and as a financial consultant at Price Waterhouse Coopers. He holds an MBA from the Kellogg Graduate School of Management at Northwestern University.
"We are pleased to have someone with DJ's diverse background and in-depth expertise in convertibles join our platform," said Augustyn. "He will be a key player in leading the growth of this important business."
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 third-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), member NYSE, NASD, and SIPC, 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, member NYSE, NASD, and SIPC, 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 3,400 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 768 offices in 48 states and service affiliate offices in Latin America, and corporate and investment banking serving clients in selected corporate and institutional sectors globally. Other nationwide businesses include mortgage lending in all 50 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 March 31, 2007, Wachovia had assets of $706.4 billion and market capitalization of $105.3 billion.
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