Wurtz to Step Down as Wachovia's CFO

Wachovia Corp. said late Thursday that Thomas A. Wurtz will resign as its chief financial officer as soon as a successor is selected.

Mr. Wurtz, 46, became the $812 billion-asset Charlotte company's CFO in January 2006.

He had come under increased scrutiny in recent months as analysts questioned Wachovia's risk-management controls.

In addition, Mr. Wurtz was a key public defender of the company's October 2006 acquisition of Golden West Financial Corp., a transaction that largely contributed to G. Kennedy Thompson's ouster as Wachovia's chief executive officer in June.

Robert K. Steel, who succeeded Mr. Thompson two weeks ago, said in a press release that Mr. Wurtz "has been a professional partner and colleague, and we are grateful for all he has done for the company."

On Tuesday Wachovia reported a loss of $8.7 billion for the second quarter.

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