Hungry for Hires

Wachovia hired a whopping 900 reps in 2005, bringing the total to 10,400, and aims to add the same number in 2006, including around 100 rookies, according to published reports. The new head of private client, James Hays, who came over from Merrill Lynch and replaces the retiring James Donley, will head up that effort. He's also expected to increase revenue per rep, where the firm is neck in neck with UBS and Smith Barney for second place behind Merrill.