WINSTON-SALEM, N.C. -- Wachovia Corp. said it would realign its corporate, consumer, investment management, and trust functions.

Corporate banking, corporate trust, employee benefit, and charitable trust services, will be combined under the Corporate Financial Services Division. Retail banking and personal trust services will be part of the Consumer Financial Services. Division, the bank said.

The bank also said that Hugh M. Durden, the head of the trust division, would succeed G. Joseph Prendergast as executive in charge of the corporate financial services division.

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