Wachovia Names Carlos Evans Head of Wholesale Banking

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Wachovia Names Carlos Evans Head of Wholesale Banking

24th July, 2006

Wachovia Corporation has named Carlos Evans head of Wholesale Banking. Evans will be responsible for leading the Commercial, Business and Community Banking segments, Wachovia's dealer business, and Real Estate Financial Services.

"Carlos is one of the top wholesale bankers in the country, and his leadership will bring a more focused and coordinated management approach to our fast-growing and increasingly complex Wholesale business lines," said Ben Jenkins, head of Wachovia's General Bank. "Carlos will play a key role as we expand the Wholesale Bank into new markets including the West."

Wachovia's Wholesale Bank delivers a full array of products and services to businesses and corporations across the Wachovia footprint, as well as global services through more than 40 international offices.

Evans assumes responsibility for the Wholesale Bank after five successful years leading Wachovia's Commercial Banking segment and more than 30 years of experience in wholesale banking. He oversaw the successful consummation of the merger between Wachovia Dealer Financial Services and WFS Financial, which, when fully integrated, will result in one of the top 10 dealer financing businesses in the U.S.

Evans holds a B.A. in economics from Newberry College. He is active in the community, serving as chairman of the board of the H. Lee Atwater Foundation, the Winthrop University Real Estate Foundation and the Winthrop University Foundation Board of Directors; treasurer of the Spoleto Festival USA; and a board member of the Mecklenburg County United Way, the Medical University of South Carolina's Health Sciences Foundation and the Psaras Foundation. Evans also is a former chairman of the board of the Charlotte Regional Partnership and Discovery Place, Inc., as well as a former board member of the Children's Theatre of Charlotte, INROADS, Newberry College, North Carolina Citizens for Business and Industry, YMCA of Greater Charlotte and Boy Scouts, Mecklenburg Council.

About Wachovia

Wachovia Corporation (NYSE: WB) is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia operates as Wachovia Bank through 3,159 offices in 16 states from Connecticut to Florida and west to Texas, and, until merger integration activity is completed, will continue to be known as Western Financial Bank in California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. Wachovia had assets of $541.8 billion, market capitalization of $90.2 billion and stockholders' equity of $49.8 billion at March 31, 2006.

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