Signaling determination to become a leading provider of investment services, Wells Fargo & Co. has hired a Wall Street executive to run its brokerage and private banking units.

Dennis J. Mooradian was named president of Wells Fargo Securities Inc. and head of Wells' private banking group, effective today. Mr. Mooradian, who will also be an executive vice president of Wells Fargo Bank, had been with Lehman Brothers since 1977, most recently as a managing director and chief operating officer in its global private client services division.

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