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Wachovia Taps Steel as CEO; Warns on Huge Q2 Loan Loss Provision 

Jul 10, 2008By

Wachovia Corp. [stock WB][/stock] said late Wednesday that it had named Robert Steel its new CEO, president and member of the board of directors — a move that has met with mixed reaction from analysts thus far. Steel was until very recently the under secretary for domestic finance at the U.S. Treasury, and a confidant for Treasury chief Henry Paulson. Both men are alums of Goldman Sachs Group [stock GS][/stock].

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