Susan Mucciarone to Lead Nation's Third-Largest Family Office

CHARLOTTE, N.C., April 12 /PRNewswire-FirstCall/ -- Calibre, the nation's third-largest multi-family office with more than $18 billion in assets, has named Susan P. Mucciarone as managing executive. She succeeds the retiring Dan Prickett to lead Wachovia Wealth Management's independent advisory practice.

Mucciarone reports to Stanhope Kelly, president of Wachovia Wealth Management, and oversees Wachovia Wealth Management's Ultra High Net Worth business -- including four family offices in Winston-Salem, Philadelphia, Boston and West Palm Beach -- and a national wealth team.

Calibre, which reported revenue growth of more than 30 percent in 2006, is dedicated to serving the unique financial needs of families and multi- generational wealth. It offers integrated wealth management for families whose financial status requires sophisticated planning techniques, advanced investment strategies and flexible financial information systems. Calibre's extensive experience and knowledge span the central disciplines of wealth management, including financial and tax planning, trust and estate administration, asset strategy and investment management, private banking and credit services, investment custody, family dynamics and charitable services.

"Susan assumes this role at an important time in the history of our business," said Kelly. "She brings an extensive background in wealth management, investment management and family office services. Susan has a keen client focus and a strong track record.

"With the significant transfer of wealth under way in our country, Susan assumes this role at an important time with tremendous opportunity. I am confident that she will lead Calibre and Wachovia to even greater success."

Mucciarone joined Wachovia in 1995 and previously served as regional managing director for Calibre in Philadelphia. Prior to joining Calibre in 2001, she was managing director of wealth management for the Mergers and Acquisitions (M&A) Group, advising clients on the personal financial aspects of corporate finance transactions.

Previously, Mucciarone was managing director of Alternative Investments and worked with the general partner to Wachovia's private investment funds. Prior to joining Wachovia, she held investment marketing and management positions with Wedge Capital Management and Capital Holding Corporation, now Aegon.

Mucciarone holds a bachelor of science degree in business administration from Bowling Green State University and a master's degree in business administration from Case Western Reserve University.

For a photo of Susan Mucciarone, please contact Josh Dunn at josh.dunn@wachovia.com.

ABOUT WACHOVIA CORPORATION

Wachovia Corporation is one of the nation'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 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 742 offices in 49 states and nine service affiliate offices in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 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.