Ben Williams is to become head of a newly formed debt markets group overseeing the fixed income and credit capital markets divisions at Wachovia Securities. He will report jointly to Steve Cummings and Barnes Hauptfuhrer, co-heads of the corporate and investment bank.
As a result, Curtis Arledge, a managing director and current deputy head of Wachovia Securities’ fixed income division, will succeed Williams as head of fixed income. Julie Bouhuys, managing director and head of credit capital markets, will remain in her current role. Arledge and Bouhuys will report to Williams.
The fixed income division provides a full range of fixed income origination, sales, trading and research services, including high grade and high yield bond underwriting and other credit products, structured products including real estate capital markets and securitisations, interest rate derivatives and foreign exchange and currency risk management.
“Placing both our fixed income and credit capital markets divisions under Ben’s leadership will enable us to maximise the long term business effectiveness of Wachovia’s increasingly interconnected credit products related businesses,” says Hauptfuhrer.
All changes take place on January 1, 2004 and the roles are all based in Charlotte, North Carolina.