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Prior to joining Wachovia Wealth Management, Madan was president of the Madan Group, a consulting firm specializing in creating and delivering sales and marketing strategies for various lines of business, with a primary focus on Wealth Management.

"As an experienced banker with a keen understanding of the wealth market, Raj Madan is uniquely qualified for this position," said Ellen Stover, head of Wachovia Wealth Management Services. "He has the drive and knowledge to foster a strong sales and marketing culture, which will help us better serve our clients and drive measurable results to the bottom line."

Madan has more than 14 years of experience in the financial services industry. Before opening his own consulting firm in 1998, Madan was an executive vice president and director of marketing for Barnett Bank, now Bank of America. While serving there in Jacksonville, Fla., he led the marketing activities for the Business Banking Group, which encompassed Private Banking, Brokerage, Retirement Services, Small Business, Middle Market, International Banking and Treasury Management.

Prior to his Florida banking experience, Madan worked for First Fidelity, now Wachovia, from 1993-96. He served as Director of Sales and Marketing, where he directed the sales effort for 120 professionals. From 1990-93, he was Business Banking Director for the Business and Professional segment for Citibank in New York, where he was a leader in developing strategy, defining product mix and marketing processes for Citibank. Citibank awarded Madan President’s Club status for two consecutive years as the top producer in Citibank’s Small Business Banking Group. His team was recognized as No. 1 in sales production within a region of 13 divisions. From 1988-90, Madan worked for Chemical Bank.

Madan’s speaking engagements include presentations for the American Bankers Association National Conference, Banking Administration Institute (BAI)’s Financial Services Marketing Symposium and BAI's Annual Conference, among others. He has been quoted in various national publications for his expertise on sales and marketing topics.

Madan has a bachelor’s degree in accounting from the University of Calcutta in Calcutta, India. He was captain of the university’s squash team and a member of the India National Rugby Team. He received a master’s degree in business administration from Angelo State University in San Angelo, Texas. He holds Series 65 and Series 7 licenses.

With $76 billion in assets, Wachovia Wealth Management is the No. 9 investment manager in the U.S. focused on the wealth market. Wachovia delivers integrated financial products and services to wealth clients through a team-based model, including private banking; debt solutions; investment management; charitable services; financial, tax and estate planning; trust administration; and insurance solutions. The company’s wealth market is primarily 11 East Coast states, Washington, D.C., and selected national and international markets. An important focus for growth is the ultra high net worth segment, serving clients with $25 million or more in liquid assets, through regional offices in New York City, Philadelphia, Palm Beach, Atlanta, Charlotte, Winston-Salem and San Francisco.

Wachovia Corporation (NYSE:WB), created through the Sept. 1, 2001, merger of First Union and Wachovia, had assets of $320 billion and stockholder's equity of $29 billion at March 31, 2002. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. 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 49 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.