Wachovia Names David Pope President for Mortgage and Retail Credit Business

CHARLOTTE, N.C., Jan. 24 /PRNewswire-FirstCall/ -- Wachovia Corporation announced today that David Pope has been named president of Wachovia Mortgage and Retail Credit. In his new role, Pope will be responsible for leading the daily sales, fulfillment, retention, service and operational aspects of the mortgage and retail credit businesses.

"David has done an exceptional job in his role as chief operating officer for the Mortgage and Retail Credit Group over the past seven months," said Ben Jenkins, head of the general banking group for Wachovia Bank. "He has been instrumental in continuing to integrate World Savings and Wachovia Mortgage into one unified organization."

Pope has served in a variety of roles over the course of a 20-year career with Wachovia. Prior to his most recent role, Pope was head of Wachovia's Business Banking group for three years. He has also held roles as co-head of the Retail Bank, region executive for Metro Washington, D.C., and retail executive for Virginia.

"I am excited for the opportunity to lead the mortgage and retail credit business for a company with the reputation of Wachovia," said David Pope. "Our mortgage and retail credit business is very well positioned for the future, and we will continue to offer our customers the best mortgage products in the industry, along with award winning service."

Wachovia Mortgage Corporation is a nationwide lender that offers a full array of mortgage and home equity products and services for home purchase and refinance. The company addresses the unique lending needs of customers in various stages of their lives through a variety of origination channels. Wachovia retail sales forces are located in Wachovia mortgage offices and financial centers in 39 states and Washington, D.C. Third-party mortgage brokers offer Wachovia mortgage products throughout the United States. In addition, Wachovia Mortgage's Direct Lending group offers mortgage products and services through telephone, direct mail and the internet. In 2007, Wachovia was ranked No. 1 in overall customer satisfaction in J.D. Power and Associates' Mortgage Loan Origination and Home Equity Line/Loan Origination Studies.

About Wachovia Corporation

Wachovia Corporation is one of the nation's largest diversified financial services companies, with assets of $782.9 billion and market capitalization of $75.3 billion at December 31, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $1.2 trillion in client assets through 17,900 registered representatives in 1,500 offices nationwide. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.