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November 04, 2003
Wachovia Securities Hires Jim Kelligrew to Head Investment Grade Debt Unit in Fixed Income Division
CHARLOTTE, N.C. - Wachovia Securities announced today that Jim Kelligrew, an industry veteran with more than 16 years of sales, trading, syndicate and research experience, is joining the firm as Managing Director and head of its Investment Grade unit within the Fixed Income Division. Kelligrew will report to Ben May, Managing Director and head of Fixed Income Credit Products.
Kelligrew will be responsible for Wachovia Securities' Investment Grade sales, trading, syndicate and debt capital markets activities when he joins the firm on Nov. 12. Wachovia Securities is on track to nearly double its number of lead managed high-grade bond offerings this year and is committed to maintaining this momentum as it builds a leading corporate debt markets platform.
"Jim brings a track record of building a strong high-grade franchise to this newly created position in our Credit Products group," May said. "We are confident that Jim will be a major player as we build on the growth and success of our Credit Products platform."
Kelligrew most recently was a Managing Director and head of Global High Grade Fixed Income at Banc of America Securities. Prior to that, he worked in various capacities in the Fixed Income division of Lehman Brothers in New York and London. Kelligrew holds a B.A. in Economics and Sociology from the University of Michigan.
"Wachovia has all the component parts to have a top-tier investment grade debt platform: a strong capital base and banking franchise, senior management commitment, and a forward-looking vision to position itself to take advantage of the ongoing convergence in the corporate debt markets," Kelligrew said. "I am excited to work with Wachovia's Investment Grade team to continue building on their momentum and success in the marketplace."
Wachovia Securities Credit Products group, part of the Fixed Income Division, provides a full range of debt financing to corporate clients, including high-grade and high-yield corporate bonds, credit default swaps, municipal finance and money market products.
Wachovia Securities Fixed Income Division also provides a full range of interest rate derivatives, structured products and real estate financing, and non-dollar products to corporate clients and institutional investors.
About Wachovia
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 $389 billion and stockholders' equity of $33 billion at Sept. 30, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Its broker-dealer, Wachovia Securities, LLC, serves clients in 48 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
Wachovia Securities is the trade name for (i) the corporate and investment banking services of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC ("WCM"), member NYSE, NASD, SIPC.; and (ii) two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member NASD/SIPC.
Stocks, bonds, mutual funds or other securities offered or sold through Wachovia Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by Wachovia Corporation, WBNA, or any bank; and involve investment risk, including possible loss of principal.
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