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Wells Fargo & Co. has named Lisa Featherngill as its managing director of planning for Abbot Downing, the bank's new unit for ultra wealthy clients.

In addition to financial planning, Featherngill leads financial administration, including services such as financial reporting and cash management, the San Francisco company said on Thursday. She reports to Anthony McEahern, head of wealth planning.

McEahern said that Featherngill and her team will focus on traditional wealth planning, such as cash flow, investments and wealth transfer. They also will work with the family dynamics team on issues such as legacy planning, family governance and family wealth education.

Since joining Wells Fargo when the bank acquired her former employer, Wachovia Corp., in 2009, Featherngill has worked as the director of wealth planning for the Carolinas and Mid-Atlantic offices. With 25 years of experience in tax and financial planning, she previously worked for Arthur Andersen as a senior manager.

Two Wells' divisions, Wells Fargo Family Wealth and Lowry Hill, will be combined under the newly named Abby Downing division in April. The division will serve customers with at least $50 million in investable assets.