Wachovia name Steel as CEO

by Richard Kilner

Story link: Wachovia name Steel as CEO

Robert Steel has been appointed by Wachovia’s board of directors to the position of chief executive officer.

Steel joins from the US Treasury, where he served as Under Secretary for Domestic Finance.

Earlier in his career he has worked for Goldman Sachs for almost two decades, where he enjoyed a distinguished career and occupied a number of senior positions.

Steel also assumes the role of president and member of the board, and takes up his new post with immediate effect.

Lanty Smith retains his role as chairman of the board.

Smith led the search committee, and, prior to Steel’s appointment had occupied the position of temporary CEO.

He has described Steel as the perfect candidate for the job, citing his extensive experience and knowledge, adding that the board’s decision was unanimous.

Smith went on to thank interim chief operating officer Ben Jenkins for his support during Smith’s time as interim CEO.