Sridhar Chityala Joins Wachovia as Head of eCommerce

CHARLOTTE, N.C., Aug. 18 /PRNewswire-FirstCall/ -- Wachovia today announced that Sridhar Chityala has joined the company as head of its eCommerce division. He will report to Ranjana Clark, head of Marketing, and will be responsible for the strategic direction and execution of the company's Internet, intranet and mobile channels, as well as Wachovia's overall online customer experience and integration.

"Sridhar brings a broad strategic perspective to the online space, as well as deep expertise in financial services," Clark said. "In addition to more than 16 years of technology and eCommerce experience, Sridhar also has an extensive background in both strategic and operational roles in financial services. This makes him a perfect fit to lead Wachovia's eCommerce strategy."

Chityala will partner with Wachovia's business units to help them develop eCommerce strategies that will support their business goals. He also will provide leadership for the corporation on innovative technologies to ensure outstanding customer service, increase client acquisition, drive revenue growth, and create efficiency for Wachovia.

"Wachovia is already an industry leader in eCommerce, and I look forward to helping the company further its meaningful Internet, intranet and mobile presence," Chityala said. "I am excited about how Wachovia can leverage these channels in an integrated fashion across its business units to serve existing customers and attract new customers."

Most recently before joining Wachovia, Chityala served as head of the Telecommunications Business Unit at Citi Cards, where he was responsible for the company's partnership with AT&T, along with mobile services and PayPass applications for credit cards.

Prior to joining Citigroup, he was executive vice president of eBusiness at JP Morgan Chase, where he was responsible for eBusiness oversight for the bank's cards, retail banking, home and auto finance and middle market businesses. Previously, he was senior executive for Chase's credit card eBusiness. When he joined Chase in 1999, Chityala had nearly 20 years of banking and finance experience in senior management and operational roles at organizations such as Financial Industry Foundation/Lafferty Councils and the National Australia Bank Group.

Chityala holds a master's degree in computer science from the Indian Institute of Technology in Bombay and a Graduate Management Qualification from the Australian Graduate School of Management. He also attended the Advanced Management Program at Stanford University's business school.

About Wachovia

Wachovia Corporation (NYSE: WB) is one of the nation's largest diversified financial services companies, with assets of $812.4 billion and market capitalization of $33.5 billion at June 30, 2008. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,300 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $1.1 trillion in client assets through 14,600 financial advisors in 1,500 offices nationwide. Online banking is available at wachovia.com ; online brokerage products and services at wachoviasec.com ; and investment products and services at evergreeninvestments.com .