Wachovia Taps Morgan Stanley in LatAm Expansion

Stephen Harris

5 October 2006

Wachovia Securities has hired three high net worth financial advisors from Morgan Stanley in San Juan, Puerto Rico, as part of its Latin America expansion. Margarita Figueroa-Toro, Cathy Santiago and Sandra Ramos-Betancourt, who together held around $350 million in client assets join the team of 13 financial advisors in the San Juan branch, which was inherited by Wachovia in 2003 from Prudential Securities. They will report to Manuel Iglesias, manager of the San Juan branch complex, which services wealthy individuals and families. Puerto Rico is part of the Wachovia's Latin America Group, which has offices in Miami; San Juan; Asuncion, Paraguay; Buenos Aires; Montevideo, Uruguay; Rio de Janeiro and Sao Paulo, Brazil; and Santiago, Chile.