Evergreen Investments, Wachovia Corp.'s wealth management arm, unveiled Wachovia Global Asset Management Wednesday, a unit intended to expand its institutional asset management prowess overseas.
Evergreen said it will use the unit's brand to conduct business development, sales, and distribution efforts in non-U.S. markets.
Mark Archer was hired to be the managing director of European distribution for Wachovia Global. In this new London-based role, he is to oversee development of institutional business in Europe through subadvisory relationships and traditional institutional pension, public funds, and not-for-profit investment management opportunities.
Mr. Archer's office will be with those of Evergreen International Advisors, the wealth management arm's London-based investment team, which employs 11 people and manages $18 billion of global-international fixed-income mandates for institutional clients.
Before joining Wachovia, Mr. Archer was co-head of institutional sales and marketing in Europe for Allianz Global Investors. Since 2004 he has been a member of Allianz Global Investors' European business coordination committee, and since 2003 he has been on its asset management committee and a coordinator of European sales and marketing.
