PRESS RELEASES

Media Contact: Leah Dering
704-383-0551

March 11, 2003
Brian Lambert to Head Wachovia Treasury Services' Business Development Group

Charlotte, NC - Wachovia announced that it has hired Brian Lambert to head the Business Development Group for the bank's Treasury Services Division. Lambert will report directly to the head of the Division, Ranjana Clark, and will work out of corporate headquarters in Charlotte, N.C.

"The creation of this role highlights the importance of Treasury Services to the growth story of Wachovia's corporate and commercial business. Brian is very capable, and we look forward to the talent and creative ideas he will add to our team as head of Business Development for Treasury Services," said Ranjana Clark.

Building upon Wachovia's reputation as one of the industry's leading providers of Cash Management services, the newly formed Treasury Services Business Development Group will be responsible for helping to drive the Division's strategic and growth agendas by building even stronger connections with the bank's growing customer base.

Lambert comes to Wachovia from McKinsey & Company where he worked as an engagement manager focusing on corporate finance and strategy issues for clients in the financial services, private equity and manufacturing industries. Prior to his position with McKinsey & Co., Lambert was a litigation group attorney at Kilpatrick Stockton.

Lambert is a graduate of the University of Virginia and holds a BS in Systems Engineering. He is also a graduate of Harvard Law School.

Wachovia, the nation's fifth-largest bank and second-largest treasury services provider, has 11 out of 17 treasury service products ranked "A" or "A+" by Phoenix Hecht, a third-party provider of market research and education for the financial services industry. Additionally, seven of the Bank's 10 key treasury product capabilities are ranked either first or second for market share in Ernst & Young's survey.

About Wachovia
Wachovia Corporation (NYSE:WB) was created through the September 1, 2001, merger of First Union and Wachovia and had assets of $342 billion and stockholder's equity of $32 billion at December 31, 2002. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. Wachovia is also the nation's second-largest treasury management services provider for both domestic and international treasury management and consulting services. Cash flow solutions include, among other products, e-commerce, integrated payables and receivables, information reporting via Web or PC, and risk management. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 48 states. Online banking and brokerage products and services are available through wachovia.com.

Email This Page

Printer Friendly Version