Wachovia Expands Commitment To Northeast Wealthy

New York Industry Veterans to lead Northeast Market and National Sales

CHARLOTTE, N.C.—Wachovia, the eighth-largest U.S. wealth manager, has named John M. Dowd, an executive with more than 20 years of experience in wealth management, as wealth management director for Wachovia Wealth Management’s Northeast Region. In addition, Thomas F. Scaturro, an executive with more than 20 years of experience in wealth management, has been named to the newly created position of national sales director for Wachovia Wealth Management. Both executives will serve in the niche market for clients with $10 million in net worth or more than $5 million in investable assets. They begin their roles with Wachovia June 2.


Dowd comes to Wachovia from BNY Mellon Wealth Management, where he served as head of the Tri-state region with responsibility for the firm’s management portfolio teams, sales and banking. Prior to the merger between Bank of New York and Mellon, Dowd served as Bank of New York’s head of the private bank and chief trust officer, overseeing all wealth management business, including personal investment management, domestic and international private banking, personal trust and custody services, and high-net-worth brokerage.

Scaturro also comes to Wachovia from BNY Mellon Wealth Management, where he served as managing director and head of sales for the firm’s Tri-state region. Prior to the merger, Scaturro was responsible for business development, training and product development for the firm’s private bank. He also served on the board of directors for the Bank of New York Trust Company, N.A. Scaturro began his career with Chase Manhattan serving as a client advisor for high-net-worth clients.

Wachovia will divide its Northeast Region in two, with New York, Connecticut and Northern New Jersey led by Dowd, while Antoinette “Toni” Cooper will continue to lead the other half of the region, including Southern New Jersey, Boston, Pennsylvania and Delaware. Dowd, Scaturro and Cooper will report to Stan Gregor, president of Wachovia Wealth Management’s Wealth Market’s Group.

“Hiring two industry veterans with the leadership caliber of John Dowd and Tom Scaturro, to complement our strong leadership team, demonstrates our commitment to significantly expand our presence in the Northeast, and further reinforce our goal to be one of the preeminent leaders in the ultra-high-net-worth space,” Gregor said. “With the backing of the nation’s fourth largest bank, an award winning investment management platform and Wachovia’s leading reputation in client service and loyalty, we have an exceptional opportunity to continue to win new market share.”

“Wachovia Wealth Management has fast become a top competitor in a very competitive market,” said Dowd. “This is a firm with one of the most comprehensive and client focused wealth management platforms in our industry, from a wide array of services to highly regarded professionals.”

“Wachovia is emerging as a top national wealth firm, and we have an incredible opportunity to build on the company’s leading reputation in client service and loyalty,” Scaturro said. “I believe we can leverage that success to build market share across the entire footprint. I look forward to leading that process and being a part of such a robust client offering.”

Since opening its New York City office in 2003, Wachovia Wealth Management has been recognized in the industry for its unique approach in integrating its trust and investment Platforms and was named “2007 High Net Worth Leader of the Year” by Private Asset Management, a publication of Institutional Investor.

A graduate of Princeton University, Cooper joined Wachovia in 1994 and has consistently led her region as a top performer. She is a board member of the Alvin Ailey Foundation, served as Co-chair for the National Conference for Black Philanthropy and is a member of the Princeton Alumni Schools Committee.

A graduate of Guilford College with a master’s degree in business administration from Columbia University, Dowd is a member of the executive committee of the New York Bankers Association, and a board member of Junior Achievement of New Jersey and the Senior Care and Activities Center.

A graduate of St. Johns University with a degree in finance, Scaturro served as a development director for a division of Catholic Charities benefiting at risk youth.