Wachovia hires Jones to head convertibles research

New York, Sept. 6 - Wachovia Securities, Inc. said it hired Steve Jones as head of its convertible securities research unit - which, the company says, is the largest U.S. research unit dedicated exclusively to convertible securities.

Jones was previously at Soros Fund Management, where he was a senior credit/fundamental analyst specializing in credit and convertible securities. Before that he was a managing director in convertible research at Banc of America and a high yield analyst at Morgan Stanley.

Jones will be based in Greenwich, Conn. and will report to Eric Grant and Kendrick Wakeman, Wachovia's co-heads of convertible securities.

"This is a significant hire for Wachovia's convertible securities team, especially since the convertible market has become more credit sensitive," said Wakeman in a news release.

"Steve not only has an outstanding understanding of the convertible market, he has a strong background in credit analysis. There aren't many people out there who are good at both, which gives Steve a competitive advantage when advising our clients on convertible securities. In our opinion, he is one of the best on the Street at what he does."

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