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Wachovia Restructures Pennsylvania/Delaware Market; Names Vik Dewan, Katie Smarilli as Additional Regional Presidents PHILADELPHIA, PA-Wachovia today announced that it has restructured its Pennsylvania and Delaware market from two geographic regions to four and named two additional regional presidents. "It is a strategic move we are making in response to the growth of our business in these regions and their importance to our plans for future growth," said Hugh C. Long II, Wachovia CEO for Pennsylvania and Delaware. The four regions are Philadelphia/Delaware, Suburban, Northeastern Pennsylvania and Central Pennsylvania. "I am pleased to announce that Vik Dewan has been named regional president for Philadelphia/Delaware and Katie Smarilli has been named regional president for Central Pennsylvania, " said Long. They join Jan Armfield, regional president for Northeastern Pennsylvania, and Pam Frey, regional president for the Suburban region. "Vik and Katie are talented and experienced leaders and together with Jan and Pam create a leadership team with extensive market knowledge and deep commitment to employees, customers and the community." In his role as regional president for Philadelphia/Delaware, Vik Dewan is responsible for all retail, small business and commercial banking activities in Philadelphia and Delaware counties and the state of Delaware, with regional headquarters in Philadelphia. Dewan is a 26-year veteran who most recently served as commercial banking executive responsible for developing and implementing PennDel's commercial strategy. He began his career at CoreStates in 1978 as a management trainee in the International Division. In 1981, he established the CoreStates Representative Office in Singapore. In 1985, he was named vice president responsible for Loan Syndications and Distributions in the Investment Banking Group. Promoted to senior vice president in 1990, Dewan joined the Wholesale Training and Administration area, and then returned to the International Division in 1992, with responsibility for leading International Corporate and Offshore Branches Initiatives. Prior to his most recent role, Dewan was executive vice president and chief human resources officer through the CoreStates merger transition. Dewan has a bachelor of arts degree from Cornell University and an MBA from the Wharton School at the University of Pennsylvania. He serves on the board of the Pennsylvania Ballet and resides in West Chester, Pa. As regional president for Central Pennsylvania, Katie Smarilli is responsible for all retail, small business and commercial banking activities in Berks, Lancaster, Lebanon, Dauphin, Cumberland, York and Adams counties, with the regional office in Reading. Smarilli most recently served as market president for the Harrisburg area and business banking director for Central Pennsylvania. She has 30 years of financial services experience, and joined the company in 1989 as vice president and regional manager for retail banking with CoreStates. In 1993, she was promoted to senior vice president and small business group manager. Smarilli was named commercial and business banking director in 1998 and was promoted to her current position in 2001. She holds a bachelor of sciences degree from Penn State University. Smarilli is president of the Alumni Society of Penn State's College of Liberal Arts, chairs the Strategic Development Committee for Penn State University's Harrisburg Advisory Board, and is Vice Chairman of the Pinnacle Health Foundation Board. She also serves on the boards of PCI and the Whitaker Center for Science and the Arts. She resides in Mechanicsburg, Pa. 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 $411.0 billion, market capitalization of $61.7 billion and stockholders' equity of $33.3 billion at March 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 East Coast states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com. Note to editors: Photos available on request. Contact Barbara Nate at 215-670-3972 |
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