James E. Hays Joins Wachovia Securities As Head Of Private Client Group

Danny Ludeman, president and CEO of Wachovia Securities, LLC announced that James E. Hays has joined Wachovia Securities and will be named president of the firm's Private Client Group in mid January, 2006. At that time, Hays will succeed James

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Danny Ludeman, president and CEO of Wachovia Securities, LLC announced that James E. Hays has joined Wachovia Securities and will be named president of the firm’s Private Client Group in mid-January, 2006.

At that time, Hays will succeed James T. Donley, who has served as president of the firm’s Private Client Group since September 2003 and earlier this year announced his intention to retire in 2006. Hays joins Wachovia Securities from Merrill Lynch where he was most recently managing director of the Private Banking and Investment Group, the ultra high net worth division of that firm’s Global Private Client Group.

In his new role, Hays will provide executive leadership for the Wachovia Securities business unit which comprises some 6,000 financial advisors, serving clients though 480 brokerage offices nationwide. Hays will report to Ludeman and serve on the Operating Committee of Wachovia Securities, LLC. He will be based in Richmond, Va., the firm’s headquarters.

“Jim Hays is a professional whose experience, talents, broad perspective and character are ideally matched to our firm’s unique culture and precisely suited to providing strong leadership and support for our financial advisors as they serve and advise their clients,” Ludeman said. “We are extremely pleased and very proud that Jim has joined Wachovia Securities and we look forward to working with him as we pursue our vision of becoming the best, most trusted and admired financial services firm in the industry.”

“There are no other firms in this industry like Wachovia Securities that combine the scale and capacity to be a long-term leader in our industry and a culture based on service and respect for the relationship between financial advisors and their clients,” Hays said. “That combination has tremendous appeal to me, and I look forward very much to playing a leadership role in this dynamic and distinctive organization,” he said.

Hays started his career as a financial advisor, co-founding an investment banking and financial advisor firm before joining Merrill Lynch in Vienna, Va. in 1987. Prior to joining the Private Banking and Investment Group at Merrill Lynch in 2001, Hays was managing director of Training and Leadership Development for Merrill Lynch Global Private Client where he was responsible for training, leadership and management development activities for the firm’s Financial Advisors, Client Associates and Managers. Earlier, he served as director of Merrill Lynch’s Silicon Valley Complex in San Jose, Calif. Hays is a graduate of the University of Virginia, where he was an All American athlete in track and field.

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