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September 02, 2003
Wachovia Announces Spence to Retire
WINSTON-SALEM, NC - Wachovia Bank, N.A. announced that Will B. Spence, Jr., CEO for North and South Carolina banking, has elected to retire at the end of the year.
Spence, a 34-year veteran of Wachovia, has held a number of leadership positions with the company. In addition to his current role, he served as CEO of South Carolina banking, executive in charge of Wachovia's Consumer Financial Services Division, regional executive for the Central Region of North Carolina, regional retail banking manager for Wachovia's Southern Region, retail banking manager and city executive in Belmont, N.C.
"Will has played a pivotal role in guiding the Carolinas Region through our recent deposit conversion with the First Union/Wachovia merger," said Ben Jenkins, head of Wachovia's General Bank. "He has a long history of doing what's best for our employees, customers and the community. With the conversion behind him, Will was ready for a change of pace and the opportunity to pursue personal interests. While we will miss his expertise and passionate commitment to this market, we respect his decision and wish him all the best."
Wachovia expects to name a successor well in advance of year-end.
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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