Wachovia Appoints New Retirement Chief
May 26, 2008
John Papadopulos has been named president of Wachovia’s Retirement and Investment Group. He replaces Robert Reid, who will run the bank’s real estate division.
In his new role, Papadopulos will oversee Wachovia’s entire retirement business, including its retail business, distribution channels, defined contribution and defined benefit recordkeeping business and reinsurance business. He will report to David Carroll, head of the firm’s Capital Management Group.
Papadopulos “has a mandate to advance our efforts further into consumer and institutional markets so that Wachovia will ultimately be the retirement provider of choice,” Carroll said.
Papadopulos had served in a series of senior management roles at Wachovia over the past 12 years, most recently as managing director within the Financial Institutions Group, where he ran the investment banking team that serves insurance and banking clients.
Wachovia led all banks in annuity sales in 2007, with $12.5 billion at the end of last year, and had the fifth most IRA assets, with $20 billion.
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