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Wachovia Names CEO, Expects Huge Loss

Stock quotes in this article: WB , GS , BAC  

Updated from July 9.

The good news: Wachovia(WB Quote) has found a CEO.

The bad news: The new guy has some challenges ahead of him.

While naming former Treasury official Robert K. Steel president and CEO late Wednesday, the Charlotte, N.C., bank warned investors it expects to lose $2.6 billion to $2.8 billion in its second quarter, before goodwill charges. ...

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