Adam Holtzschue to lead 165-member team offering high-end credit products. Wachovia Wealth Management has put veteran staffer Adam Holtzschue in charge of its Affluent Credit Services group. This makes him responsible for a loan portfolio of $20 billion and a deposit portfolio of $13 billion.

"Wachovia has a unique opportunity to leverage its lending capabilities through multiple channels nationwide," says Wachovia Wealth Management president Stanhope Kelly.

Breadth and depth

Holtzschue will manage 165 professionals at Wachovia's headquarters in Charlotte, N.C., and in regional offices. He'll also take the lead in product development, pricing and process management for loans and deposits in Wachovia Wealth Management accounts, as well as custom underwriting and approval for other lines of business.

"We're excited to be able to expand the breadth and depth of products available to affluent clients," says Holtzschue. "From customized mortgages to aircraft or yacht financing, we have sophisticated solutions that can be tailored to meet our clients' needs."

Wachovia Wealth Management's Affluent Credit Services group can also help its clients with business-acquisition financing, recapitalizations and estate-planning vehicles.

Holtzschue -- whom Kelly describes as "a proven leader with an impressive track record in the credit business" -- has been with Wachovia since 1992, most recently as a regional managing for its the eastern U,S. commercial banking group, which manages about $11 billion in loans and $6.6 billion in deposits from the Carolinas to New England. He has also been a member of Wachovia's Affluent Credit Services team.

Wachovia has around 3,400 retail financial centers in 21 states. In May 2007 it agreed to acquire St. Louis, Mo.-based A.G. Edwards.

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