Evergreen Investments, the asset management arm of Wachovia Corp., announced today that Walter McCormick is returning to the firm as a managing director and head of Evergreen's newly formed value equity team.

The position is newly created, as this is the first time that the value group has aligned the portfolios within the small-, mid- and large-cap strategies under the leadership of one individual, said Chap Peterson, a spokesman for Evergreen. The value equity team, which includes 19 investment professionals, oversees a total of $7.4 billion in assets under management for retail and institutional clients.

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