Wachovia Securities LLC announced Monday that Mary T. Mack has been promoted to president of the brokerage firm's investment services group, the business unit through which financial advisers supply investment advice and brokerage services to customers of Wachovia Bank.
Ms. Mack is an executive vice president and the head of Wachovia Client Partnership, which encourages referrals among the business lines of Wachovia Corp.
In her new role, Ms. Mack is to head a Wachovia Securities division with more than 1,200 financial advisers; it also coordinates the brokerage's partnership with Wachovia Bank through about 2,500 licensed financial specialists at nearly 2,000 bank sites. She reports to Danny Ludeman, the president and CEO of Wachovia Securities, and will be on the brokerage's operating committee.
She succeeds Dwight Moody, who was named president of the investment services group in 1999. Mr. Moody announced a plan this year to retire in 2007 after 34 years with Wachovia and its predecessor organizations.
Wachovia Securities is the nation's third-largest full-service retail brokerage; it has more than $704 billion of client assets.
