Wealth Management Press Releases

By 2010, households in the Central Virginia market—which includes the city of Richmond and Chesterfield, Goochland, Hanover, Henrico and Richmond counties—with $250,000 or more in investable assets are projected to have grown 58 percent since 2005, according to data collected by Wachovia's Insight and Innovation group. During that same five-year period, total population in the region is expected to grow six percent.

Beames will lead a team of more than 50 wealth management professionals in Richmond who deliver a full range of wealth management services to high net worth individuals, their families and businesses. His office is located at 1021 East Cary Street in Richmond.

"Tom is a proven leader who is dedicated to helping us grow our presence in this important market," said Jeffrey C. Hartman, Private Banking director of the Southeast Region for Wachovia Wealth Management. "We are committed to serving affluent individuals in the Richmond marketplace in a distinctive way that will exceed their expectations. Our focus on local delivery and our commitment to excellence have made Wachovia No. 1 in customer service seven years in a row. Nowhere is that personal touch more important than in wealth management."

"This is an important market to us and this move positions us well to serve the growing affluent segment in Richmond," said David Camden, market leader for Wachovia. "I look forward to working with Tom and his wealth management team as we focus on meeting the needs of all of our clients in this region."

Beames has been affiliated with Wachovia and its predecessor banks for 20 years, beginning his career in the Washington, DC, area. He most recently served as senior vice president and regional managing director for Wachovia Trust and Investment Advisory Services in Florida, where he was responsible for providing experienced guidance in trust investment sales and service.

Beames was educated at George Mason University, where he received a bachelor's in finance and investments.

An active participant in civic and community service organizations in Florida, Beames plans to serve with organizations in the Richmond-area focused on cancer research, children's health, education and the arts.

About Wachovia Wealth Management
Wachovia Corporation (NYSE:WB) is the 8th largest wealth manager in the country, according to Barron's 2007 ranking of U.S. Wealth Managers. Wachovia Wealth Management has been recognized for its award-winning open architecture investment platform, Advantage, and was named 2007 High-Net-Worth Leader of the Year by Private Asset Management, a publication of Institutional Investor. Its 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.

Wachovia Corporation is one of the nation's largest diversified financial services companies, with assets of $812.4 billion and market capitalization of $33.5 billion at June 30, 2008. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,300 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.