The pending acquisition of New York-based U.S.
In addition to targeting publications catering to affluent readers, he wants to ratchet up Wachovia Wealth Management’s traditional focus on event marketing, such as sponsoring a ball to raise money for cancer research in ultra-affluent Palm Beach, Fla., next year. Kelly added, “and very dynamic.”Īs Wachovia moves to capture a broader wealth management market segment, spending on marketing will increase in 2008, he said. Compensation reviews “are a constant for us,” Mr. Kelly said, as well as the bank’s ability to introduce wealth managers “to many clients through a very formalized referral program” from both the retail bank and Wachovia’s corporate investment bankers.Ĭompensation will be both reviewed and raised, he said. Wachovia’s brand and investment platform are recruiting advantages, Mr. The intensity of the “war for talent” is “as hyped up as I’ve ever seen it,” he said, but he cautioned there is “no silver bullet” to resolve the problem. Kelly acknowledged, calling human resources his “No. Wachovia also will expand private banking aggressively in Texas and the Northeast, particularly in New York and Long Island, he said.Īttracting and retaining qualified wealth management talent to fill those jobs in a market characterized by high demand and relatively low supply will be a major challenge, Mr. Hiring people in the new offices in the booming Northern and Southern California wealth markets will be the top priority of Wachovia’s private-banking group this year, said Morrison Creech, the group’s managing executive (see wealth management market reports under Special Reports at ). In fact, the cornerstones of an ambitious wealth management overhaul Wachovia announced earlier this month are an aggressive geographic expansion and plans to hire approximately 300 new relationship managers over three years for a newly formed private-banking group, which will include clients with investible assets of between $250,000 and $5 million. Wachovia Corp., the Charlotte, N.C.-based parent company, is “quite supportive” of his goal, Mr. “I’d like to build this into as dominant a national business as we possibly can.” He does, however, want to establish Winston-Salem, N.C.-based Wachovia Wealth Management as a national power. Kelly said, but the wealth management group won’t handle the wealthy clients. Edwards’ affluent clients access to the bank’s trust services and lending capabilities, Mr. Wachovia will be a “product provider” for brokerage clients, giving A.G. The Edwards brokers are anxious about their future role, given the announcement last month that Wachovia Corp. won’t have to worry about losing their wealthy clients, according to Stan Kelly, president of Wachovia Wealth Management. Wachovia Payoffs – YORK - Brokers at A.G.Wachovia 401kInstitutional Retirement and Trust –.Login your Wachovia MyAccount at Reference Links At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. Wachovia was a diversified financial services company based in Charlotte, North Carolina. was Chevy Chase Bank official site, which also provides great online banking experiences. Wells Fargo Advisors can help you understand the impact of changing market conditions on your investment plan. Personal finance like online banking with BillPay, mobile banking, online brokerage, retirement planning, lending(mortgage, home equity, education loans), investing and more information are also available in the landing page after you login. With account login online, you will get the latest mortgages rates and home equity loans rate and information to protect yourself against identity theft and fraud. As a Wells Fargo company, Wachovia online banking provides an easier and quicker access to your account information.
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