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Steve Nason Joins Wachovia Securities Financial Institutions Investment Banking Group Charlotte, NC - Wachovia Securities today announced that Steve Nason has joined the firm as a Managing Director in the Financial Institutions Investment Banking Group. Nason is responsible for leading Wachovia's Insurance Investment Banking practice and will report to Joe Thomas, Head of the Financial Institutions Group. Nason, age 39, is based in Charlotte. "We are excited to have Steve join Wachovia Securities. With 15 years of investment banking experience, he brings us strong industry knowledge and significant transaction experience. The insurance sector is an area of strength for Wachovia given the firm's capital markets platform, distribution strengths and institutional relationships. Steve's experiences will add value to existing clients and expand our advisory capabilities," Thomas said. Nason joins Wachovia from Credit Suisse First Boston (CSFB), where he was a Managing Director in the Financial Institutions Group. He joined CSFB in 1986 and has focused his entire career on the insurance sector and has managed assignments in merger and acquisition, equity, fixed income, and derivative transactions for insurance companies both domestically and internationally. Nason is a graduate of Cornell University and The Amos Tuck School of Business Administration at Dartmouth College. The Financial Institutions Investment Banking Group at Wachovia is comprised of 30 professionals focused on four key sectors. In addition to the Insurance Group, Bob Grunewald, Managing Director, leads the Specialty Finance practice, Al Bush, Managing Director, leads the Banks and Depository Institutions practice and Ann Gill, Managing Director, leads the Asset Management and Securities practice. "Steve joins a very strong group of bankers with significant industry experience. He will be an important leader on our team serving Wachovia's strategic insurance clients" added Thomas. Wachovia Securities is a full-service investment bank providing clients with equity, fixed income, and convertible research, financial sponsors coverage, corporate finance and mergers and acquisitions advisory services. In addition, Wachovia Securities provides such products as debt and equity financing, loan syndications, derivatives, equity investments, asset securitization, treasury services and international correspondent banking. Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $348 billion and stockholders' equity of $32 billion at March 31, 2003. Wachovia is a leading provider of financial services to 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 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services 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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