People Moves

Wachovia Securities Hires New Investment Chief

Tom Burroughes Editor London 4 September 2008

Wachovia Securities Hires New Investment Chief

Wachovia Securities, part of US bank Wachovia, said it has hired Tom McManus, formerly managing director and chief investment strategist at Banc of America Securities as its new chief investment officer and director of advisory services.

As chief investment officer, Mr McManus will lead the firm's advisory services group, which is responsible for setting the overall investment policy and strategy that supports the firm's financial advisors, Wachovia said in a statement.

"We are extremely impressed with Tom's background, experience and ability to connect with our financial advisors and their clients," said Daniel Ludeman, president and chief executive of Wachovia Securities. "He is clearly the right person to help leverage the substantial talent that exists within our firm's Advisory Services Group as a result of combining Wachovia Securities and AG Edwards, " Mr Luderman said.                                  

Mr McManus has worked at Banc of America Securities, Morgan Stanley and Goldman Sachs. In his new capacity, McManus will report to Brand Meyer and Peter Miller, co-presidents of the brokerage firm's financial services group.

Mr McManus will be based in his new job in St Louis, Missouri.

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