WINSTON-SALEM, N.C. - John G. Medlin Jr., one of the leading bankers of his generation, announced Friday he will give up the reins of Wachovia Corp. at the end of the year.

Mr. Medlin, 60, will turn over the chief executive post to Leslie M. "Bud" Baker, his chief lieutenant.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.