LaPlaca has spent the past four years as chief financial officer for the division's Retirement and Investment Products Group and a member of its senior management team, where she helped formulate Wachovia's retirement strategy and integrate its retirement businesses into a single, dedicated organization to provide retirement services to clients across the Wachovia franchise.
Prior to joining Wachovia, LaPlaca was the chief financial officer of the Retirement Services Division at CitiStreet and held senior financial roles at The Copeland Companies.
In her new role, LaPlaca will oversee all finance operations for the Capital Management Group, including retail brokerage, asset management and retirement services. She will play an integral role driving strategy across all CMG businesses. She will report to David Carroll, president of the Capital Management Group, and will work closely with Thomas Wurtz, chief financial officer for Wachovia Corporation.
"Theresa is a thoughtful, engaging and challenging leader who has a deep knowledge of our businesses and a demonstrated ability to partner across the organization," said Carroll. "We are delighted she will be taking on this role at an important time for our company and our division, as we complete our merger with A.G. Edwards."
"The Capital Management Group businesses are becoming more and more important to Wachovia," said LaPlaca. "I am pleased to be able to take on additional responsibilities with a group that provides such important advice, guidance, and services to retail and institutional investors."
About Wachovia's Capital Management Group
Wachovia's Capital Management Group includes its retail brokerage arm, Wachovia Securities, the nation's third largest full service brokerage firm; its asset management firm, Evergreen Investments; and its Retirement and Investment Products Group, which includes its institutional retirement plan business, Wachovia Retirement Services. It has more than 25,000 employees located in offices throughout the United States serving retail and institutional clients. In 2007, the division had revenues of more than $7 billion and pre-tax income of more than $1.75 billion.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $808.9 billion and market capitalization of $53.8 billion at March 31, 2008. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,300 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. The retail brokerage operations under the Wachovia Securities brand name manage more than $1.1 trillion in client assets through 18,600 registered representatives in 1,500 offices nationwide.
