CHARLOTTE, N.C., Aug. 28 /PRNewswire-FirstCall/ -- Wachovia Securities today announced that Kristina "Krick" Clark will join the Debt Capital Markets (DCM) group as a managing director. Clark, who currently serves as managing director and senior analyst in the Fixed Income Research Group, will transition to her new position by mid-September and will assume a senior coverage role focusing on specialty finance companies and banks. Clark will report to Amy Kabatznick, managing director and head of DCM.
"We are very excited to bring Krick's strategic perspective to this role," said Kabatznick. "We believe her strong relationships with the buy-side investor base, along with her well-developed industry insights, will result in deeper client penetration and product innovation for our Debt Capital Markets platform."
Clark's efforts as a senior fixed income sell-side research analyst have garnered her Institutional Investor All-American recognition for the past four years, culminating in a First Team placement for her coverage of Non-bank Financials in 2005. She has been instrumental in driving Wachovia's client- focused research strategy, which has differentiated the company from many of its peers, and her work with both buy-side investors and issuers has enhanced Wachovia's research efforts and overall financial institutions platform.
"I'm certain that the wisdom, energy and creativity that Krick will bring to her new DCM role will be very beneficial to our clients," said Tim Patrick, managing director and head of Credit Products Research.
Clark has been at Wachovia for almost three years. Prior to joining Wachovia she was a senior research analyst at Banc of America Securities. She holds a bachelor's degree in Finance and International Business from Georgetown University and is a CFA charterholder.
In tandem with Clark's transition, Wachovia remains committed to maintaining industry-leading fixed income research coverage of the Financial Institutions space. The company intends to name a replacement for Clark's research coverage in the near future.
About Wachovia's Corporate and Investment Banking Group
Wachovia's Corporate and Investment Banking group offers a full suite of products and services to public and private companies, institutional investors, financial institutions and the financial sponsor community. Investment banking and the global markets businesses (fixed income and equities) operate under the Wachovia Securities brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring and execution services. Wachovia's Corporate and Investment Bank also includes the 3rd largest Treasury Services business in the U.S., as well as leading asset-based lending and global correspondent banking services. The firm is built on a cohesive culture that encourages creative ideas, capital solutions, and experienced advice to all clients.
Wachovia Securities is the trade name for the corporate, investment banking and capital markets of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC (WCM) and Wachovia Securities International Limited, which is authorized and regulated by The Financial Services Authority in the United Kingdom. Wachovia Securities is also the trade name for the retail brokerage businesses of WCM's affiliates, Wachovia Securities, LLC, Wachovia Securities Financial Networks, LLC, Wexford Clearing, LLC, and First Clearing, LLC.
About Wachovia
Wachovia Corporation is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia has retail and commercial banking operations in 16 states with 3,109 offices from Connecticut to Florida and west to Texas and California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. Wachovia had assets of $553.6 billion, market capitalization of $86.0 billion and stockholders' equity of $48.9 billion at June 30, 2006.
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