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Picone Joins Metwest Securities to Head Distribution, Client Service and Product Development New Jersey— Metropolitan West Securities LLC ("MetWest") announced today that Gene Picone has joined the organization as managing director responsible for global distribution, client service and product development. MetWest is a wholly owned subsidiary of Wachovia Bank, NA, which is part of Wachovia Corporation, one of the nation's largest financial service providers to retail, brokerage and corporate customers. "Gene's 26 years of experience and global presence add to our already strong business model and will allow us to aggressively move forward with our global expansion," said Gary F. Rupert, chief executive officer of MetWest. Picone joins MetWest from JPMorgan, where he spent 19 years in a variety of senior positions and product management roles. Most recently, he was the Western Hemisphere Business Executive for JPMorgan's suite of execution products, which included securities lending. He has also held many prominent industry roles, such as chairman for the Risk Management Association's Committee on Securities Lending and chairman of the US Board of EquiLend, LLC. "MetWest has built its reputation on strong performance, impeccable client service and a passion for risk management," Picone said. "These values fall in line with what I believe to be the key ingredients for a successful business. I am excited for the opportunity to work with my colleagues to help take this highly respected franchise to the global community." MetWest is an investment advisory, asset management and broker/dealer firm specializing in securities lending and short-term fixed-income asset management. With approximately $60 billion on loan today, MetWest is one of the nation's largest, most respected third-party securities lending providers, with a national client base consisting of major institutional funds and corporate portfolios. About Wachovia |
About Wachovia