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July 22, 2004
Wachovia Securities Names Diane Schumaker-Krieg Head of Global Research
Schumaker-Krieg to manage equity and fixed income research groups
CHARLOTTE, N.C. -- Wachovia Securities announced today that Diane Schumaker-Krieg has been named Managing Director and Head of Global Research for Wachovia Securities. She will report to Ben Williams, Managing Director and Head of Global Capital Markets.
Schumaker-Krieg, will be responsible for managing all of Wachovia Securities' research, covering equity, convertible, derivative, investment grade and high yield bond research, as well as commercial mortgage-backed securities, structured products and syndicated loan market research.
"We believe that aligning our equity, fixed income and other research activities under single leadership will bring unique value to our clients. Diane, with 20-years of Wall Street experience, is the ideal candidate to lead this important new effort at Wachovia, and we are very pleased she is joining the firm," said Williams.
Schumaker-Krieg was formerly a Managing Director and Co-Head of U.S. Equity Research at Credit Suisse First Boston (CSFB), based in New York. In this position, she chaired the firm's Equity Research Review Committee and oversaw product quality and content. Schumaker-Krieg was also responsible for research marketing and sales, including CSFB's Research Correspondent's Desk, a business she began in 1991 and developed into one of the most successful hard-dollar research sales efforts on Wall Street.
Prior to joining CSFB in 1991, Schumaker-Krieg held management positions in Equity Capital Markets and Private Equity at Dillon, Read & Co., Inc. and in corporate finance at Pepsico, Inc. and Primerica.
Schumaker-Krieg holds an MBA in Finance from Columbia University and a B.A. from Wellesley College, where she graduated Phi Beta Kappa.
Wachovia Securities recently integrated the firm's equity, equity linked product and fixed income businesses into a Global Capital Markets division headed by Williams. Wachovia Securities Corporate and Investment Bank provides investment banking and capital markets financing, as well as Treasury Services and International correspondent banking.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $418.4 billion, market capitalization of $58.3 billion and stockholders' equity of $32.6 billion at June 30, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 East Coast states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
Wachovia Securities is the trade name for the Corporate and Investment Banking Services of Wachovia Corporation and its subsidiaries, including its broker-dealer Wachovia Capital Markets LLC, member NYSE, NASD, SIPC.
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