CHARLOTTE, N.C., Sept 04, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Wachovia Securities
announced today that Craig Overlander will join the firm as managing director
and global head of Fixed Income, beginning Sept. 15. Overlander will report to
Ben Williams, head of Global Markets and Investment Banking and will be based
jointly in Charlotte and New York City.

"Craig has a unique combination of deep fixed income experience,
demonstrated leadership skills and strong client relationships," said
Williams. "His focus on clients and creating partnerships across
organizational lines are a natural fit for Wachovia's culture. I am excited to
have such a talented leader as the head of this important business."

A graduate of Williams College, Overlander built a 26 year career at Bear
Stearns, serving most recently as managing director and co-head of Fixed
Income. He has been closely involved in managing the transition during the
firm's acquisition by J.P. Morgan and has served on Bear Stearns' Management
and Compensation Committee as well as various Boards of Directors of Bear
Stearns subsidiaries.

"Wachovia has a long-standing track record of success in the fixed income
space," said Overlander. "I am proud to join a firm with such a strong
brokerage, asset management and retail franchise. The industry leading
products and deep talent base of Wachovia's fixed income platform combined
with its broad distribution network create tremendous opportunities for future
growth."

About Wachovia's Corporate and Investment Banking Group

Wachovia's Corporate and Investment Banking group offers a full suite of
products and services to public and private companies, institutional
investors, financial institutions and the financial sponsor community.
Investment banking and the global markets businesses (fixed income and
equities) operate under the Wachovia Securities brand and have become a global
force in the capital markets arena by providing comprehensive advisory,
capital raising, structuring and execution services. Wachovia's Corporate and
Investment Bank also includes the third-largest Treasury Services business in
the U.S., as well as leading asset-based lending and global correspondent
banking services. The firm is built on a cohesive culture that encourages
creative ideas, capital solutions and experienced advice to all clients.

Wachovia Securities is the trade name for the corporate, investment
banking, capital markets, and institutional securities businesses of Wachovia
Corporation and its subsidiaries. These businesses are conducted through
Wachovia Capital Markets, LLC, member FINRA, NYSE and SIPC, and other bank and
non-bank broker-dealer subsidiaries of Wachovia Corporation, including
Wachovia Bank, National Association. Wachovia Securities is also the trade
name for the retail brokerage businesses of WCM's affiliates, Wachovia
Securities, LLC, Wachovia Securities Financial Networks, LLC, Wexford
Clearing, LLC, and First Clearing, LLC.

About Wachovia

Wachovia Corporation (NYSE: WB) is one of the nation's largest diversified
financial services companies, with assets of $812.4 billion and market
capitalization of $33.5 billion at June 30, 2008. Wachovia provides a broad
range of retail banking and brokerage, asset and wealth management, and
corporate and investment banking products and services to customers through
3,300 retail financial centers in 21 states from Connecticut to Florida and
west to Texas and California, and nationwide retail brokerage, mortgage
lending and auto finance businesses. Globally, clients are served in selected
corporate and institutional sectors and through more than 40 international
offices. Our retail brokerage operations under the Wachovia Securities brand
name manage more than $1.1 trillion in client assets through 14,600 financial
advisors in 1,500 offices nationwide. Online banking is available at
wachovia.com; online brokerage products and services at wachoviasec.com; and
investment products and services at evergreeninvestments.com.

SOURCE Wachovia Corporation

http://www.wachovia.com

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