Wachovia names Phil Smith head of Government and Institutional Banking

By Sheri Kasprzak

New York, May 19 - Phil Smith was named head of government and institutional banking and co-head of municipal products for Wachovia Corp., said a statement released Monday by Wachovia.

Smith was previously head of Bank of America's public finance division.

At Wachovia, Smith will report to Carlos Evans, head of wholesale banking, and Thold Gill, head of global rates.

"Phil brings extensive industry experience, strong business development skills and demonstrated leadership to this position," said Evans in the statement.

"We are excited about this strategic move, which reflects the importance of the government and institutional segment of our growth plans."

In his role at Wachovia, Smith will head up the bank's strategy, business leadership and client relationship development areas for state, local and municipal government, nonprofit institution and nonprofit health care firms. He will also share leadership of the municipal products desk with Robin Sheth, said the Wachovia statement.

"Phil is the ideal person to leverage our strength in core banking for governments and institutions, and our formidable municipal finance capabilities, to create a holistic approach to this segment that is greater than the sum of its parts," Gill said.

"We are looking forward to Phil's contribution to our team, and to Wachovia as a whole, as we accelerate our momentum in this sector."

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