Armed with an East Coast operation after its acquisition of Wachovia Corp., Wells Fargo & Co.'s wealth management division says it plans to use an integrated distribution model nationally to increase assets under management and market share.

Wells Fargo's wealth management group announced Monday that it had promoted Erik Davidson and Robert Storey to managing directors of investments for the Western and Eastern U.S. regions, respectively. Davidson and Storey, who were named to newly created posts in the company, are now senior investment leaders for the investment management business, managing about 250 investment specialists who work with wealthy clients.

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