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August 21, 2003
Wachovia Wealth Management Hires Industry Veteran Morrison Creech as Senior Credit Officer
CHARLOTTE, NC - Wachovia Wealth Management announced today that G. Morrison Creech, a 25-year industry veteran with extensive middle market experience at Bank of America and its predecessors, has been named Managing Executive of Credit and Deposit Services. Creech, who begins his new role on Aug. 25, will report to Stan Kelly, President of Wachovia Wealth Management.
In this role, Creech will be responsible for a loan portfolio of $10 billion and a deposit portfolio of $11 billion, overseeing a staff of approximately 180, located in regional credit offices throughout the East Coast. He will be accountable for credit quality, the development of new deposit and credit products, and the delivery of existing products.
Since 2000, Creech has served as Commercial Bank Credit Products Executive for the middle market loan portfolio in Bank of America's Atlantic Region, with responsibility for business development, sales, marketing of credit products and asset quality.
"We are delighted to have Morrison, with his strong performance and extensive experience, join Wachovia Wealth Management," Kelly said. "He is a dynamic leader with proven results in driving revenue, defining and implementing key strategies, while at the same time enhancing client and employee satisfaction."
Creech said he was impressed with Wachovia's integrated model for serving high net worth clients and the way it combines private banking and sophisticated credit services with investment management. "Wealth Management will be a growth engine for Wachovia, and I want to be on this team," he said. "We will continue the journey well under way to become the dominant wealth management provider of credit and deposit services in our markets. I want to focus on the basics -- a relentless focus on client needs and service, a sense of urgency on every client opportunity, flawless execution and proactive risk management."
From 1998 to 2000, Creech served as East Region Commercial Special Assets Executive, responsible for a $1 billion problem asset portfolio for the Eastern United States. From 1989 to 1998, he held a series of positions that led to his appointment as Credit Risk Policy Executive. Prior to that, he served two years as Business Systems Development Manager responsible for major systems projects, such as commercial and consumer loan applications and credit scoring. Creech was City Executive/Branch Administrator from 1981-1987 in Union County, N.C. He joined NCNB Corporation in 1978 as Profit Planning Officer and was promoted to Senior Analyst in 1981. He was a 1978 Phi Beta Kappa graduate at the University of North Carolina at Chapel Hill, where he earned a bachelor's degree in business administration.
Creech lives in Monroe, N.C., and has been an active member of United Way of Central Carolinas, the Foundation for the Carolinas, and numerous other community organizations. He served on the Union County Board of Education from 1992 to 1996.
About Wachovia Wealth Management
With $63 billion in assets, Wachovia Wealth Management, which is based in Winston-Salem, N.C., is one of the largest wealth managers in the U.S. focused on the wealth market. Wachovia delivers integrated financial products and services to wealth clients through a team-based model, including private banking; debt solutions; investment management; charitable services; financial, tax and estate planning; trust administration; and insurance solutions. The corporation's wealth market is locally based in more than 50 markets in primarily 11 East Coast states, Washington, D.C., and selected national and international markets.
About Wachovia Corporation
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 $364 billion and stockholders' equity of $32 billion at June 30, 2003. The company operates full-service banking offices in 11 East Coast states and Washington, D.C., and offers retail brokerage services in 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.
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