Is Ludeman out?

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Nov 13, 2008 8:11 pm

Received an all associate email late in the day announcing who will be heading the major businesses at Wells after the merger.  Didn't see Ludeman's name anywhere.  There was a guy (Carrol?) who I've never heard in the spot that I thought would be Danny's. 

 
Could anybody confirm that Danny is indeed out?  If not, I'm sure where know either way within the next few days.
Nov 13, 2008 8:12 pm
Thursday, November 13, 2008 - 2:40 PM PST

Wells Fargo names only Wachovia exec reporting to CEO

San Francisco Business Times


Wells Fargo & Co. has chosen David Carroll, head of Wachovia Corp.’s capital-management group, to lead the combined firms’ wealth management efforts.

A Wells spokeswoman says Carroll will be the only Wachovia executive who will report to Wells CEO John Stumpf after the merger.


Carroll’s job will include businesses such as retail brokerage, investment management and retirement services.


Wachovia CEO Bob Steel isn’t planning to stay after the bank is sold.


San Francisco-based Wells Fargo & Co. (NYSE: WFC) is buying Wachovia in a deal slated to close next month. It was valued at $15.1 billion when it was announced Oct. 3.


This week Morgan Stanley said two senior Wachovia executives joined its retail banking group.


Cece Sutton will become its president and Jonathan Witter has been named its chief operating officer.


Sutton is leaving her post as executive vice president and head of retail and small business at the Charlotte-based bank (NYSE: WB), where she was responsible for 33,000 employees.


Sutton will join the management committee of New York-based Morgan Stanley (NYSE: MS).



Charlotte Business Journal

Nov 13, 2008 8:41 pm
ryedog123:

Received an all associate email late in the day announcing who will be heading the major businesses at Wells after the merger.  Didn't see Ludeman's name anywhere.  There was a guy (Carrol?) who I've never heard in the spot that I thought would be Danny's. 

 
Could anybody confirm that Danny is indeed out?  If not, I'm sure where know either way within the next few days.
From what I know, that was Danny's old boss anyway so I think he's still in.....
Nov 13, 2008 9:11 pm

Agreed.  Danny runs only WS while Carrol runs the entire wealth management part...WS plus Evergreen, plus the bank brokers, etc.