Wachovia announced today that it will base its newly structured wealth management division in Winston-Salem, N.C. following completion of the merger it announced this spring with First Union Corporation.

The company will base chief executives of its personal trust, charitable, executive, insurance and wealth marketing services in the North Carolina location. Support teams for the division will be located in Charlotte, N.C. and Philadelphia. In addition, the company will scatter other sales and service teams throughout the eastern region.

Wachovia, with assets of $74.8 billion under management as of the second quarter's end, has previously maintained offices in Winston-Salem as well as other southern cities.

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