Charlotte, N.C.-based Wachovia said in a statement Monday morning that
Thompson will be succeeded on an interim basis by chairman Lanty Smith.
Ben Jenkins, currently vice chairman and president of the banking unit,
will serve as interim chief operating officer.
The bank -- which is exceeded in size by Citigroup Inc., J.P. Morgan
Chase & Co. and Bank of America Corp. -- has upset investors
recently after its shares fell 54% in the past year due to the
credit crisis. Wachovia was especially hard hit in part because it
bought Golden West, whose two main markets were California and Florida
-- states suffering badly from mortgage foreclosures. -
Peter Moreira
See full story on TheDeal.com
