Wachovia Corp. announced Tuesday that it had hired Irene Esteves to be chief financial officer of its capital management group, succeeding Emile Shahadi, who became the division's CFO in 2000 and this year announced his intention to retire.
Before joining Wachovia, Ms. Esteves worked seven years for Putnam Investments in Boston as chief financial officer and another year in human resources. In her new role, she is to oversee all finance operations for the capital management group, including retail brokerage, asset management, retirement services, and securities lending.
She reports to David Carroll, the group's president, and is to work closely with Thomas Wurtz, the parent company's chief financial officer.
The group includes Wachovia's retail brokerage arm, Wachovia Securities, the nation's third-largest full-service brokerage; its asset management unit, Evergreen Investments; its retirement and investment products group, which includes the institutional retirement plan business, Wachovia Retirement Services; and its securities lending business, MetWest.
