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May 18, 2004
Wachovia Trust Names Ray McKinney Head of Investment and Fiduciary Administration
Winston-Salem, N.C. - Ray McKinney has been named Managing Executive of Investment and Fiduciary Administration for Wachovia Trust, a unit of Wachovia Wealth Management, and one of the largest and oldest trust companies in America. McKinney, who was formerly chief operating officer of Wachovia's Calibre Family Office, has more than 30 years of experience in corporate, institutional and personal financial services.
"This is a significant new role for Wachovia Trust, and we are fortunate to have Ray, with his extensive experience, to serve in this capacity," said Robert Kniejski, president of Wachovia Trust. "He will be responsible for developing and maintaining investment product strategy, as well as product delivery, for Wachovia Trust and Wachovia Wealth Management. Ray will also oversee fiduciary process and administration."
McKinney joined Wachovia in 1996 as manager of Institutional Client Services after 13 years as director of Northern Trust Retirement Services, where he advised large corporate pension and savings plans. Prior to that, he managed the consulting division of Information Systems of America, advising clients on the design and implementation of large, complex financial services administration and processing systems. He began his career with Electronic Data Systems, where he designed and operated financial accounting and administration systems for corporations and governmental agencies. After graduating from Emory University, he served more than four years in the U.S. Air Force.
About Wachovia
Wachovia Corporation (NYSE: WB) is the 5th largest wealth manager in the country, according to Barron's 2003 rankings of top Wealth Managers in the United States. Wachovia 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 $411 billion, market capitalization of $61.7 billion and stockholders' equity of $33.3 billion at March 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 East Coast states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
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