Wachovia Securities Names Yu-Ming Wang as Head of Fixed Income Asia

Wachovia Securities Names Yu-Ming Wang as Head of Fixed Income Asia

February 28, 2007

    CHARLOTTE, N.C., Feb. 28 /Xinhua-PRNewswire/ --
Wachovia Corp. announced today that Yu-Ming Wang has been
named head of Fixed Income Asia. In this newly created
role, Wang will execute the firm's corporate business
strategy and manage all fixed income origination,
distribution, and trading as the Fixed Income Division's
senior leader in Asia. He will be based in Hong Kong.

    Wang will report to Curtis Arledge, head of Fixed
Income in this new role.  Wang is currently a managing
director and head of Structured Credit Products for
Wachovia Securities. In addition to his new role, Wang will
maintain his current responsibilities, reporting to Tom
Wickwire, head of Structured Products.

    "Given the initial success we have had in Asia
over the past few years and the tremendous opportunities in
the region, we have decided to consolidate the leadership of
Fixed Income Asia activities under a single business
leader," Arledge said. "Yu-Ming has pioneered a
number of innovative products and has a deep knowledge of
our company, customers and the opportunities for growth in
this important region." 

    "Our expansion in the region will continue to
leverage our strengths in market-leading products like real
estate structured finance, CMBS, CDOs, structured rates and
derivatives," said Wickwire. "Yu-Ming is the
right leader to propel the growth of our platform in
Asia."

    Wang joined Wachovia Securities in 2000 as head of
Structured Credit Products and is responsible for all
aspects of Wachovia's cash flow and synthetic CDO
businesses. These platforms include origination,
structuring, marketing and trading of CRE CDOs, corporate
CDOs, repacks, synthetics and middle market CLOs. Before
joining Wachovia, Wang co-founded Structured Credit
Partners, LLC, an industry pioneer in the management of
commercial real estate (CRE) CDOs, which became a wholly
owned subsidiary of Wachovia Corporation in August 2001. 

    Prior to Structured Credit Partners, Wang was a
portfolio manager at CGA Investment Management, a portfolio
manager at General Reinsurance and a fixed-income trader at
FGIC Capital Market Services. He holds a bachelor's degree
from MIT and an MBA from New York University.

    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 NASD, 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 U.S.'s
largest diversified financial services companies, providing
a broad range of retail banking and brokerage, asset and
wealth management, and corporate and investment banking
products and services. Wachovia has retail and commercial
banking operations in 21 U.S. states with 3,375 retail
banking offices from Connecticut to Florida and west to
Texas and California. In addition, two core businesses
operate under the Wachovia Securities brand name: retail
brokerage with 750 offices in 47 states and service
affiliate offices in Latin America, and corporate and
investment banking in selected industries nationwide. Other
nationwide businesses include mortgage lending in all 50
states and auto finance covering 46 states. 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. At Dec. 31, 2006, Wachovia had
assets of $707 billion and market capitalization of $108
billion.


    For more information, please contact:

     Elise Wilkinson
     Wachovia Corporation
     Tel:   [phone]


SOURCE  Wachovia Corporation