G. Joseph Prendergast, senior executive vice president for the Banking Division, said, "Wachovia’s success in corporate banking depends significantly on the middle-market sectors. Walter McDowell has led North Carolina banking activities in an exceptional manner since 1993. Few banks have matched the financial performance and market impact that Wachovia has experienced in the state under his leadership. This new corporate-wide assignment will enable his considerable banking skills to influence a broader cross section of our markets and customers. Wachovia and its customers and shareholders will benefit from the results."
McDowell joined Wachovia in 1973. His assignments have included Personal Banker, business banker, corporate banker, regional corporate banking manager, regional executive and head of Wachovia’s Retail Banking Support Services and Marketing groups. He was elected executive vice president of the bank in 1992 and became president and chief executive officer of North Carolina Banking in 1993. He was elected executive vice president of Wachovia Corporation in 1997.
McDowell is a native of Winston-Salem. He has a bachelor's degree in economics from the University of North Carolina at Chapel Hill, where he also completed the Young Executive Program.
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