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December 14, 2004
WACHOVIA APPOINTS LINDA BOWDEN TO NEWLY CREATED WEALTH MANAGEMENT POSITION
Bowden will oversee all regions within the Wachovia footprint
New York, NY- Wachovia Wealth Management has named Linda Bowden to the newly created position of Wealth Management Executive to oversee its 55 wealth management teams that serve clients throughout the East Coast from Boston to Miami and in expansion markets in Alabama and Texas.
Bowden will be based in New York City, reporting to Stanhope Kelly, president of Wachovia Wealth Management, which provides private banking, personal trust, investment advisory services, charitable services, financial planning and insurance brokerage to high net worth individuals, their families and businesses. Wachovia is the 4th largest wealth manager in the country, according to Barron's 2004 rankings of top Wealth Managers in the U.S., with $275 billion in assets. In addition to Wealth Management, that includes some assets of Wachovia Securities LLC, the corporation's retail brokerage arm.
Bowden previously served as Wachovia Wealth Management Director for New York, New Jersey and Connecticut. Over the past three years, under her leadership, the region has been one of the fastest growing in Wachovia Wealth Management in attracting new clients and in growing revenue.
"With Linda's strong track record and extensive experience, she will play a key role in helping build client loyalty and grow the business," Kelly said. "As we continue to invest in our wealth management business, we're delighted to have Linda in a position where she can leverage her insight to client needs across all of our markets."
She brings to her new role 20 years of sales management experience in all facets of wealth management, having served as portfolio manager, trust and investment officer, and private banking officer. Prior to joining Wachovia in 1991, Bowden worked eight years at the Private Banking Group of Citibank, where she ultimately became the Northeast Private Banking Sales Manager.
A New Jersey native, Bowden comes to the position highly credentialed. She earned a bachelor of arts in education from Rowan University, a master of arts in institutional counseling from William Paterson University and a master's degree in business administration with a major in finance from Fairleigh Dickinson University. Additionally, Bowden completed the National Trust School at Northwestern University, earned her Certified Trust Financial Advisor designation and has completed numerous sales management and leadership programs. She began her career as a teacher for seven years in Wyckoff, N.J., where she taught children of various ages in all subjects and authored two children's math books.
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve approximately 14 million client relationships (including households and businesses), primarily in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and Washington, D.C. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through wachovia.com.
Wachovia had assets of $436.7 billion, stockholders' equity of $33.9 billion and market capitalization of $61.4 billion at Sept. 30, 2004. SouthTrust had assets of $53.8 billion and stockholders' equity of $4.7 billion at Sept. 30, 2004.
EDITOR'S NOTE: Please contact Jan Deuters for photograph at jan.deuters@wachovia.com.
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