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Media Contact: Tony Mattera
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March 09, 2006
Wachovia Securities Names Marge Connelly Chief Operating Officer and President of Business Services Group

Richmond, Va. – Danny Ludeman, president and CEO of Wachovia Securities, announced today that Marge Connelly will join the brokerage firm as Chief Operating Officer and President of its Business Services Group, effective Monday, April 3, 2006. The Business Services Group comprises the firm's critical operations, processing and corporate support functions and coordinates all aspects of its information technology, including IT development and integration. Connelly also will serve as a member of Wachovia Securities' Operating Committee, its senior executive panel.

Connelly joins Wachovia Securities from Capital One, where she played a central role in the company's formation and growth since its establishment in 1994. Most recently, Connelly was executive vice president for corporate partnerships, a role in which she led the company's efforts to establish and build relationships with other businesses and with governmental and community leaders and organizations. Earlier she held a variety of positions of increasing responsibility within the company, including head of its U.S. consumer operations.

“Marge Connelly is an accomplished senior executive with more than 20 years of industry experience, who brings to Wachovia Securities a level of expertise, energy and leadership skill that will serve our organization well,” said Ludeman. “During her career, Marge has demonstrated an extraordinary ability to forge and sustain effective and successful team efforts. She is a strong advocate of building personal trust, sharing accountability and driving for continual process improvement – all of which are essential to the long-term success of our business,” he said.

In addition to outstanding professional skills and credentials, Connelly is active in community affairs, serving on the boards of the Greater Richmond YMCA, the World Affairs Council, Richmond Renaissance, the Virginia Chamber of Commerce and the Greater Richmond Partnership. Marge also chairs the Virginia Workforce Council as appointed by the Governor to the Longwood University Board of Visitors and the Council on Virginia’s Future, and she is a member of the board of CJW Medical. In 2003, she was named “Outstanding Woman of the Year” in business by the YWCA.

The nation's third largest full service retail brokerage firm with more than $684 billion in client assets, Wachovia Securities provides financial advisory, brokerage, asset management and other financial services through more than 10,400 registered representatives in more than 2,800 locations nationwide.* Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member NASD/SIPC

*As of 12/31/2005.