Morris joins Wachovia from Harris Nesbitt, where he led the firm's apparel retail efforts for the past seven years. He has been twice named “Best on the Street” in the Wall Street Journal's annual analyst survey as a top stock-picker in the retail sector. “John has in-depth knowledge of all aspects of the apparel retail industry, as well as an excellent understanding of consumers and emerging growth companies,” said Pearlstein. “John adds much to our already strong specialty apparel research efforts.”
“I am very excited to have the opportunity to lead a talented team that has a great legacy of success and to partner with the rest of Wachovia's consumer research team to work to increase the strength of the excellent franchise Wachovia has built in this area,” Morris said.
Prior to joining Harris Nesbitt, Morris spent five years as an apparel analyst for Prudential Securities. Before that, he spent several years as a consumer analyst with that company and focused on the emerging growth segment. He also served as senior analyst on the emerging growth research team at Morgan Stanley. He began his career at Credit Suisse First Boston as an investment banker.
Morris earned a bachelor's from Stanford University and a master's in business administration from the Amos Tuck School at Dartmouth College.
About Wachovia's Corporate and Investment Banking Group
Wachovia's Corporate and Investment Banking group offers a full suite of products and services to public and private companies, institutional investors, financial institutions and the financial sponsor community. Investment banking and the global markets businesses (fixed income, equities, and research) operate under the Wachovia Securities' brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring, research and execution services. Wachovia's Corporate and Investment Bank also includes the 3rd largest Treasury Services business in the U.S. as well as leading asset-based lending and global correspondent banking services. The firm is built on a cohesive culture that encourages creative ideas, capital solutions, and experienced advice to all clients.
Wachovia Securities is the trade name for the corporate, investment banking, capital markets and securities research businesses of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC (WCM) and Wachovia Securities International Limited, which is authorized and regulated by The Financial Services Authority in the United Kingdom. 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.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia operates as Wachovia Bank through 3,159 offices in 16 states from Connecticut to Florida and west to Texas, and, until Westcorp merger integration activity is completed, will continue to be known as Western Financial Bank in the former Westcorp locations in California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. 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. Wachovia had assets of $541.8 billion, market capitalization of $90.2 billion and stockholders' equity of $49.8 billion at March 31, 2006.
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