Press Releases

In her new role, Mack will head the Wachovia Securities division that includes more than 1,200 Financial Advisors and coordinates the brokerage firm's partnership with Wachovia Bank through some 2,500 licensed financial specialists in nearly 2,000 bank locations.  She will report to Danny Ludeman, president and CEO of Wachovia Securities, LLC, and serve on the brokerage firm's Operating Committee.  Mack will succeed Dwight Moody, who has served as president of the firm's Investment Services Group since 1999.  Moody announced earlier this year his plans to retire in 2007 after 34 years with Wachovia and its predecessor organizations. 

"I am delighted that Mary Mack has accepted this key leadership role in our brokerage firm," Ludeman said.  "She is a leader with a crucial understanding of both the brokerage and banking businesses as well as experience at building and strengthening the types of collaborative relationships that have made our in-bank brokerage model arguably the most successful in the financial services industry."

Ludeman noted that Wachovia Securities' Investment Services Group is a central part of the brokerage firm's multifaceted business model, which sets it apart in the securities industry and represents a competitive advantage. "No one deserves more credit than Dwight Moody for creating a successful bank-brokerage model that offers choice and flexibility to the nation's best financial advisors and to their clients.  We are grateful for Dwight's tremendous contributions to our firm's growth and progress, and we are delighted that Dwight will remain with Wachovia into 2007 to ensure a seamless transition in ISG's leadership."

Mary Mack has been with Wachovia Corporation since 1984.  During her tenure she has held a variety of positions of increasing responsibility, including Managing Director in the Corporate and Investment Banking Group and Regional President for Wachovia Bank in Charlotte, N.C.  She resides with her family in Fort Mill, S.C.

The Investment Services Group of Wachovia Securities is one of three primary business lines within the brokerage firm. The others are the Private Client Group, in which Financial Advisors serve their clients through stand alone full-service brokerage offices throughout the U.S., and the Independent Brokerage Group, which encompasses a network of independent brokerage practices affiliated with Wachovia Securities Financial Network, LLC; the Correspondent Client Group, which provides clearing and other services for small and medium sized broker dealers; the Latin America Group, including brokerage offices in five Latin American countries, and Wachovia Securities discount and online brokerage arm.

The nation's third largest full service retail brokerage firm with more than $704 billion in client assets, Wachovia Securities provides financial advisory, brokerage, asset management and other financial services through approximately 10,500 registered representatives in more than 2,700 locations nationwide.* Wachovia Securities is the trade name used by 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.  *As of 6/30/2006.