Hoak will be responsible for all retail and wholesale banking operations in the Mid-South region, which includes Alabama, Tennessee, Mississippi and the Florida Panhandle. He will be based in Birmingham.
“Rob will be an outstanding leader for the Mid-South region,” said Tom Coley, head of Wachovia’s Southern Banking Group. “He will be very visible to our customers and employees. Rob is an energetic, engaging leader who places strong value on outstanding customer service, strengthening customer relationships, growing our business and developing our people.”
Hoak joined Wachovia in 1983 and has been the regional president for Wachovia’s Greater Georgia region (comprising 11 markets outside metro Atlanta) since 2003. During that time, Greater Georgia was Wachovia’s top performing region for the company’s Community Banking segment in 2004 and 2005.
Other positions Hoak has held include regional president, Piedmont Triad; regional president, Eastern North Carolina; area president, Greater North Carolina (Raleigh); Executive, General Banking Group, Raleigh; head of wholesale banking, Mid-Atlantic region; area president, Savannah, Ga.; corporate banking manager, Atlanta; and head of Corporate Banker Training, Charlotte. He holds a B.S. in Business Administration from The Citadel and an M.B.A. from Wake Forest University.
Hoak will be active in the Mid-South community. In recent years, his community affiliations have included serving on the boards of directors for the Georgia Council on Economic Education, the Georgia Department of Economic Development, the Georgia Chamber of Commerce, the North Carolina Enterprise Corporation, The Citadel Foundation, the Guilford College Advisory Board, the Wake Forest University Board of Visitors and the Bryan School Business Advisory Board.
DeVane is retiring after a very successful 30-year career with Wachovia. He has served as the CEO for the Mid-South region since the fall of 2004.
“Ronald had a distinguished career and we will miss him greatly,” Coley said. “His leadership provided strong and steadying guidance for employees and customers through the Wachovia-SouthTrust merger. And, his warmth, compassion and commitment to others were especially evident during our efforts to help our Wachovia family and customers begin the recovery from Hurricane Katrina.”
DeVane started in banking as a management trainee in Dothan, Ala., in 1974. After holding various positions in Commercial Lending, he became president of SouthTrust Bank in Dothan in 1993; and in 1999, he also became the Dothan bank’s Chief Executive Officer.
From July 2002 through December 2003, DeVane served as Chief Executive Officer in Georgia, with responsibility for the bank’s operations in metropolitan Atlanta, Athens and North Georgia. In January, 2004, he was named Chief Executive Officer for the Community Bank segment at SouthTrust Bank and assumed responsibility for the bank’s operations in 18 Community Bank markets throughout its nine-state territory.
DeVane plans to move back to Webb, Ala., to spend time with his family and to work on his farm there.
About Wachovia:
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $520.8 billion, market capitalization of $82.3 billion and stockholders’ equity of $47.6 billion at December 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve more than 13 million household and business relationships primarily through 3,131 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 719 offices in 49 states, Washington, D.C., and six Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.
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