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June 23, 2003
Wachovia Securities Bolsters Health Care Research Coverage
Ted Huber, Eric Veiel and Martin Auster join Wachovia Securities
BALTIMORE, Md. - Wachovia Securities announced today the addition of senior health care equity analysts Ted Huber, Eric Veiel and Martin Auster, rounding out the firm's coverage of the sector. The analysts will report to Anthony Gallo and Todd Wickwire, co-heads of Wachovia Securities equity research.
Huber will cover medical devices companies, Veiel will cover managed care services, and Auster will focus on biotechnology firms. The firm has existing health care research in clinical labs, diagnostics, alternate site, facilities and specialty pharmaceuticals.
"We are thrilled to have Ted, Eric and Martin on board as we increase our emphasis on health care research, a sector that is not only critical to the overall economy but also to our investor clients," Gallo said. "These new hires give us one of the most insightful health care research calls on the Street."
Huber joined Wachovia Securities from Banc of America Securities, where he was a senior equity analyst covering companies in the medical device and products sector. Huber began his career in the health care field as a consultant in the health care practice of Bain & Co. He also was director of business development with Nellcor Puritan Bennett, a global manufacturer and distributor of medical devices and products.
Huber earned a BA from the University of Colorado, and an MBA from the Amos Tuck School at Dartmouth College. He will work out of Wachovia Securities' New York office.
Veiel, a Chartered Financial Analyst, joined Wachovia from Deutsche Bank Securities, where he was a senior equity analyst covering managed care services companies for the past two years. He covered the broad health care sector at A.G. Edwards & Sons, and began his career at CMS, the U.S. Center for Medicare and Medicaid Services
Veiel holds an undergraduate degree in finance and accounting with distinction from James Madison University, and a MBA from Washington University's John M. Olin School of Business. He will be based in Baltimore.
Auster joined Wachovia Securities from SunTrust Robinson Humphrey, where he was most recently a senior equity analyst covering the biotechnology and emerging pharmaceuticals sectors. He will work out of Wachovia Securities' Baltimore office.
Auster earned his medical degree from the University of Texas, and a BA from the University of Michigan, where he participated in the school's honors program.
Wachovia Securities, part of the Corporate and Investment Bank unit of Wachovia Corp., has about 35 senior equity analysts covering more than 350 companies in 10 industry sectors.
About Wachovia
Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $348 billion and stockholders' equity of $32 billion at March 31, 2003. Wachovia is a leading provider of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation. Wachovia is also the nation's second-largest treasury management services provider for both domestic and international treasury management and consulting services. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 48 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.
Important Notice: "Wachovia Securities" is the trade name for the corporate and investment banking services of Wachovia Corporation and its subsidiaries. Debt and equity underwriting, trading, research and sales, loan syndications, agent services, and corporate finance and M&A advisory services are offered by Wachovia Securities, LLC, member NASD, NYSE and SIPC. Mezzanine capital, private equity, municipal securities trading and sales, cash management, credit, international, leasing and risk management products and services are offered by various non-broker dealer subsidiaries of Wachovia Corporation.
This is for your information only and is not an offer to sell, or a solicitation of an offer to buy, the securities or instruments mentioned. The information has been obtained or derived from sources believed by us to be reliable, but we do not represent that it is accurate or complete. Any opinions or estimates contained in this information constitute our judgment as of this date and are subject to change without notice. Performance analysis is based on certain assumptions with respect to significant factors that may prove not to be as assumed. You should understand the assumptions and evaluate whether they are appropriate for your purposes. Performance results are often based on mathematical models that use inputs to calculate results. As with all models, results may vary significantly depending upon the value of the inputs given. Models used in any analysis may be proprietary making the results difficult for any third party to reproduce. The securities referenced herein are more fully described in offering documents prepared by the issuers, which you are strongly urged to request and review. Wachovia Securities, Inc. (“WSI”), or its affiliates may provide advice or may from time to time acquire, hold or sell a position in the securities mentioned herein. If you are subject to ERISA, this report is being furnished on the condition that it will not form a primary basis for any investment decision. WSI, member NYSE, NASD and SIPC, is a subsidiary of Wachovia Corp. and an entity separate and distinct from its affiliated banks. Copyright © 2002 Wachovia Securities, Inc.
SECURITIES: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE
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