Short Takes: Wachovia, Jefferson-Pilot In Annuity Marketing Deal

Wachovia Corp. and Jefferson-Pilot Life Insurance Co. are joining to sell the insurer's fixed annuities through Wachovia Investments' broker- dealer network.

"It has the potential to be our largest direct bank relationships," said Frank Mahoney, a senior vice president with Jefferson-Pilot.

He estimated that annuity sales through Wachovia could top $100 million annually.

"We don't have a single bank giving us that much business" now, he added.

Wachovia, based in Winston-Salem, N.C., has more than 145 investment counselors spread among its nearly 500 branches throughout North Carolina, South Carolina, and Georgia.

Jefferson-Pilot's strong financials appealed to Wachovia, a bank spokesman said.

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