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September 23, 2004
WACHOVIA SECURITIES NAMES ELTON VOGEL MANAGING DIRECTOR, CO-HEAD OF LEVERAGED FINANCE ORIGINATION
Eric Lloyd joins Vogel as co-head of Leveraged Finance Origination in Fixed Income Division's Credit Products group
CHARLOTTE, N.C. --- Wachovia Securities announced today that Elton Vogel, an industry veteran in leveraged loan, high yield and debt restructuring, has joined the firm as Managing Director and Co-Head of Leveraged Finance Origination, reporting to Julie Bouhuys, head of the Fixed Income Division's Credit Products group.
Eric Lloyd, Managing Director and former Head of Wachovia Securities' Loan Syndications group, also was named Co-Head of Leveraged Finance Origination. Vogel, 37, and Lloyd, 36, will jointly be responsible for leveraged finance origination and execution, acquisition finance, high yield capital markets, and loan syndication.
"We are excited to have Elton join us as we build momentum in the Leveraged Finance business overall and our financial sponsor related business in particular," Bouhuys said. "We are committed to the leveraged finance business, and teaming Elton and Eric as co-heads will provide a catalyst for the continued expansion of our Leveraged Finance Origination group."
In addition to Vogel, three members of his former team have also joined Wachovia Securities in leveraged finance origination. Gary Wolfe, Managing Director; Jim Jeffries, Managing Director; and K.C. Brechnitz, Director, bring significant leveraged loan, high yield and bridge finance experience, along with established sponsor relationships and capital-raising expertise.
Vogel previously worked as Head of Leveraged Acquisition Finance and Restructuring Advisory at Banc of America Securities, where he was responsible for all leveraged finance capital raising for highly leveraged corporate-to-corporate, financial-sponsor driven transactions and special situation capital raising.
"We have generated significant growth in loan syndications over the past year, and we will continue to focus on growth in our high yield business as we integrate our high yield and loan syndication businesses," Lloyd said. "I am very excited about my partnership with Elton and know he shares my passion to continue building a leading leveraged finance business focused on our corporate and financial sponsor clients."
Wachovia Securities Credit Products group provides leveraged loan syndication and high yield and investment grade bond origination, sales, distribution, trading and research services. Wachovia Securities ranks #3 year-to-date in leveraged loan syndications by number of deals having increased market share over the past year more than any other firm.
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 retail and business clients nationwide. 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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