Wachovia Corporation has named John Papadopulos, 49, president of the Retirement and Investment Products Group (RIPG), one of three businesses within the Capital Management Group.
Papadopulos succeeds Robert Reid, who recently was named head of the Real Estate Division within the Corporate and Investment Bank. Papadopulos will report to David Carroll, head of the Capital Management Group, and serve on the division’s operating committee.
“John has had a long career focused on serving the unique needs of his clients, has a strong track record of growing businesses and is very effective at building partnerships across the broader company. I am pleased that John will be at the helm of this business. He has a mandate to advance our efforts further into the consumer and institutional markets so that Wachovia will ultimately be the retirement provider of choice,” says Carroll.
Papadopulos has spent the past 12 years working in the firm’s Corporate and Investment Bank, in a series of senior management roles, most recently as managing director within the Financial Institutions Group, leading the investment banking team that covers insurance and banking clients. Prior to this role, Papadopulos served four years as the managing director of Institutional Investor Management. In this position, he served as chief liaison to the top 50 global institutional investors that are trading partners of Wachovia’s Fixed Income and Equity groups. Before joining Wachovia, he served as a managing director at Bankers Trust in New York and at Continental Illinois Bank in Chicago.
In his new role, Papadopulos will oversee the firm’s retirement business, including its retail retirement business, which provides products, including IRA and annuities, to Wachovia’s distribution channels, which include Wachovia Bank and Wachovia Securities; Wachovia Retirement Services, its defined contribution and defined benefit record keeping business; and the reinsurance business.
“Retirementand saving for future needsis one of the biggest issues affecting Americans today. RIPG is a terrific business at Wachovia, and I am very excited to be working with this team and all its partners to help create solutions for our clients,” adds Papadopulos.