Wachovia Securities LLC announced Wednesday that it has hired Tom McManus, a former Bank of America Corp. executive, as its chief investment officer and director of its advisory services group.

He succeeded Gregory Sigmund, the Wachovia Corp. unit's director of equities, who had been the group's acting director since April, when Michael Jones left to start his own advisory firm, Riverfront Investment Group LLC in Richmond, Va.

Mr. McManus, 51, was managing director and chief investment strategist at Banc of America Securities until he left the Charlotte company in April. His career has also included stops at Morgan Stanley and Goldman Sachs & Co.

He will report to Brand Meyer and Peter Miller, co-presidents of the St. Louis brokerage unit's financial services group.

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.