Wealth Management Press Releases

Wilkinson will have responsibility for establishing and leading teams of Wealth Management Private Banking relationship managers in California and Arizona, who will work with clients to meet their increasingly complex financial needs. Wachovia's Private Banking clients are typically working professionals – such as executives, doctors, lawyers and business owners – who have growing financial planning, estate planning, credit and insurance needs. Wilkinson will partner closely with regional leaders from Wealth Management, the General Bank, the Capital Management Group and Wachovia Securities to focus on this growing segment.

"These are busy people with complex lives who need advice to simplify their finances," Creech said. "We know more about their needs than ever before, and Winston and his teams will help us to not only meet but to exceed their expectations."

Private Banking, a new division of Wachovia Wealth Management previously known as the Private Advisory Group, has announced plans to more than double its 240 relationship managers over the next three years. Hiring is targeted to take place in high-growth markets throughout Wachovia's markets. Wachovia Wealth Management plans to add teams in Los Angeles, San Francisco and Phoenix. Wealth Management Private Banking relationship managers will partner with the 1,300 financial advisors in the Investment Services Group of Wachovia Securities to serve the investment needs of the affluent market. Growth in the number of U.S. households with $250,000 to $5 million in investable assets is projected to increase 30 percent from 14 million in 2005 to 18 million by 2010.

Wilkinson returns to Wachovia from Fifth Third Bank, where he led the consumer bank division. Prior to joining Fifth Third in 2006, he was retail executive with Wachovia Mortgage. Wilkinson worked with Wachovia for 15 years, serving as North Florida regional president, greater Georgia regional president, West Georgia regional president and Columbus Georgia market president. He also worked as a commercial banker with SunTrust Bank. Wilkinson earned a  bachelor's degree in finance from Auburn University.

"I am excited about rejoining Wachovia because of the quality of the company and its commitment to service," said Wilkinson. "Wachovia has a clear vision for the future that includes the expansion of markets and the private banking business. This is a great opportunity for me to come back and be a part of the expansion into California and Arizona by building out Wealth Management Private Banking to better serve the needs of our clients."

A Wealth Management Private Banking team is already on the ground serving Wachovia Wealth Management clients in Irvine, San Diego and Los Angeles. "Our team is growing, and we look forward to working with Winston," noted regional director Shiva Sattar, who has worked with affluent clients in Southern California for more than 10 years. "We have met with success as we have introduced Wachovia Wealth Management to the Orange County market. Our focus will continue to be on meeting the needs of clients as we expand in this underserved segment."

Creech said, "With the significant transfer of wealth under way and the increasing number of affluent individuals, Wachovia Wealth Management and our private banking teams want to be well positioned to grow and deliver our robust suite of wealth products and services across a broader client base throughout our western region. Winston will lead our efforts to be on the ground and fully staffed in the markets where these potential clients are located."

Creech noted that bringing in clients who are new to Wachovia Wealth Management will continue to be a primary focus of the group. Since 2004, the Private Advisory Group has added 30,000 new clients, reporting double-digit growth in loans, deposits, revenue and investment revenue each year. In addition, Wealth Management Private Banking relationship managers will work closely with Wachovia bankers to serve the personal financial needs of business owners and executives whose firms generate up to $15 million in annual revenue. Wachovia serves nearly one million of these firms.

For a photo of Winston Wilkinson, please contact Josh Dunn at josh.dunn@wachovia.com.

ABOUT WACHOVIA WEALTH MANAGEMENT
Wachovia Corporation (NYSE:WB) is the 5th largest wealth manager in the country, according to Barron's 2006 ranking of U.S. Wealth Managers. Wachovia Wealth Management's holistic approach includes private banking and credit services; debt solutions; investment management; financial and tax planning; trust and estate planning and administration; charitable services and insurance solutions delivered in an integrated manner based on each client's needs and preferences. Other specialties include risk management services, family office services, family governance and stewardship consulting, marine and aircraft financing, and retirement and benefits services.

ABOUT WACHOVIA
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $719.9 billion and market capitalization of $97.5 billion at June 30, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to 13 million household and business customers. Wachovia has 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $795 billion in client assets through approximately 10,800 registered representatives in 774 offices in 48 states and through service affiliate offices in Latin America. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.

In May 2007, Wachovia announced an agreement to acquire A.G. Edwards, Inc., a financial services holding company whose primary subsidiary is the national investment firm of A.G. Edward & Sons, Inc. A.G. Edwards and its affiliates employ 6,623 financial consultants in 741 offices nationwide and two European locations in London and Geneva. This proposed acquisition is expected to be completed in the fourth quarter of 2007, pending the approval of A.G. Edwards shareholders and applicable regulatory approvals