Wachovia Trust Names President

W. Robert Newell will take over the post.
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Wachovia Trust named W. Robert Newell as president, meaning he will lead a group with more than $70 billion in personal trust assets under care.

The unit of Charlotte, N.C.-based banking and financial services behemoth

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said Newell will replace Robert Kniejski, who is retiring. During his 24-year career with Wachovia, Newell has served in several leadership roles, most recently as wealth management director for the Carolinas.

Over the last 18 months, the operation has added 85 sales professionals and client service associates and plans to add 46 new trust administrators by the end of the year.

Wachovia Trust's services include comprehensive trust administration, investment management, philanthropic advice and estate-settlement services.