The Wachovia Client Partnership, a key strategy led by Wachovia chairman and CEO Ken Thompson to integrate the company's core businesses, has generated $525 million in revenue since its inception in 2003, including more than $200 million this year. Revenue totals generated through the program do not include cross-sale revenue generated within a single line of business.
Thompson said, "I initiated WCP with two primary goals: to ensure Wachovia provides customers with the products and services that best meet their needs, and to generate incremental revenue beyond what the business units would produce operating separately. The key to success is a leader who understands customers' needs and Wachovia's business lines, and who can be a catalyst for enthusiastic collaboration and partnership. Mary Mack set a great example for this type of leadership in the first years of WCP. Amy has been very involved in the work from the beginning, and I look forward to her outstanding leadership as we continue."
Through WCP's structured and disciplined approach, partners across Wachovia's business lines work together to provide comprehensive solutions to customers and ensure they are served by the area that can best meet their needs.
"Working in close partnership, our business units have been very successful in providing value-added services to clients that have resulted in deeper relationships and increased revenue," Kelly said. "Amy has the experience and knowledge to continue to build on WCP's strong success and positive momentum."
Pitt, who joined Wachovia nine years ago, has served in key roles in the Corporate & Investment Bank, including managing director of the CIB/Wealth Management partnership, head of Client Services and director of Business Development. A graduate of Stanford University and UNC-Chapel Hill, she began her career in investment banking at Morgan Stanley & Co. in New York.
An active member of the Charlotte community, Pitt currently serves on the boards of directors for the McColl Center for Visual Art and The Community School of the Arts. She volunteers with the Foundation for the Carolinas— Women's Impact Fund, is a member of the Board of Visitors at the University of North Carolina at Chapel Hill, and serves on the Carolina Women in Business Advisory Board at Kenan-Flagler Business School. She and her family live in Charlotte.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. Including the Golden West merger, which closed on October 1, 2006, Wachovia has retail and commercial banking operations in 21 states with 3,400 retail banking offices from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage with 737 offices in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 states and auto finance covering 46 states. 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. At September 30, 2006, Wachovia had assets of $559.9 billion and market capitalization of $88.2 billion. On the same date, based on pro forma data, Wachovia's combined assets were approximately $700 billion and combined market capitalization was $107 billion.
