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Craig Overlander to Join Wachovia Securities as Global Head of Fixed Income

"Craig has a unique combination of deep fixed income experience, demonstrated leadership skills and strong client relationships," said Williams. "His focus on clients and creating partnerships across organizational lines are a natural fit for Wachovia's culture. I am excited to have such a talented leader as the head of this important business."

A graduate of Williams College, Overlander built a 26 year career at Bear Stearns, serving most recently as managing director and co-head of Fixed Income. He has been closely involved in managing the transition during the firm's acquisition by J.P. Morgan and has served on Bear Stearns' Management and Compensation Committee as well as various Boards of Directors of Bear Stearns subsidiaries.

"Wachovia has a long-standing track record of success in the fixed income space," said Overlander. "I am proud to join a firm with such a strong brokerage, asset management and retail franchise. The industry leading products and deep talent base of Wachovia's fixed income platform combined with its broad distribution network create tremendous opportunities for future growth."

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 third-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, capital markets, and institutional securities businesses of Wachovia Corporation and its subsidiaries. These businesses are conducted through Wachovia Capital Markets, LLC, member FINRA, NYSE and SIPC, and other bank and non-bank broker-dealer subsidiaries of Wachovia Corporation, including Wachovia Bank, National Association. 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 (NYSE: WB) 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 fromConnecticut toFlorida and west toTexas andCalifornia, 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 $1.1 trillion in client assets through 14,600 financial advisors in 1,500 offices nationwide. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.

SOURCE Wachovia Corporation