Wachovia Close to Naming CEO

The Wall Street Journal says the troubled bank's choices have narrowed to Treasury Undersecretary Robert Steel and former BofA CFO Alvaro de Molina.
Publish date:


(WB) - Get Report

has narrowed it CEO search to Treasury Undersecretary Robert Steel and former

Bank of America

(BAC) - Get Report

CFO Alvaro de Molina,

The Wall Street Journal

reported Wednesday.

The paper's Web site, citing people familiar with the matter, said a decision was expected within days. Steel also is a former

Goldman Sachs

(GS) - Get Report


Charlotte, N.C.-based Wachovia's top job has been manned on an interim basis by Chairman Lanty Smith, since former CEO Ken Thompson was

forced to resign

in June. Thompson came under fire after the bank posted what ultimately was a $708 million first-quarter loss.

Smith heads up the bank's search committee.

Wachovia shares fell 8% to $14.29 Wednesday.

This article was written by a staff member of TheStreet.com.