"We are excited to bring Bill and John to our business," said White. "They both bring great depth of experience advising and financing media and communications clients and will continue to enhance our fast-growing presence in these sectors."
Bundy comes to Wachovia Securities after 16 years at JPMorgan Chase & Co., where he was a managing director. Most recently, he managed investment banking relationships and mergers and acquisitions advisory mandates for top tier telecommunications, media and technology companies. Bundy also was a founding member of a multi-disciplinary team formed to advise corporate clients on solving complex financial issues. He holds a master's in business administration from New York University and is a 1988 graduate of Dartmouth College.
Schwarz comes to Wachovia Securities with 10 years of investment banking experience, most recently as a director in the Media Group at Lazard Frères & Co. Schwarz managed client relationships and developed and executed strategic advisory and financing transactions for companies in publishing, radio and television broadcasting, cable, satellite and diversified media and entertainment. Prior to Lazard, Schwarz worked in media and communications investment banking with Merrill Lynch and Credit Suisse First Boston. He holds a master's in business administration from Duke University and is a 1991 graduate of the College of William and Mary.
"Bill and John both have significant track records of executing complex transactions with a variety of media and communications companies and will be great assets to our practice," said Engel. "We are very pleased they have chosen to begin a new chapter of their careers with Wachovia."
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 and capital markets 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's proprietary research is branded Wachovia Research.
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 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 750 offices in 47 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 December 31, 2006, Wachovia had assets of $707 billion and market capitalization of $108 billion.
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