Wachovia opens office in city today
FE Report | Thursday, 5 June 2008
Wachovia Corp will open a new representative banking office in the city today (Thursday) demonstrating Wachovia's increasing commitment to Bangladesh.
"We have been doing business in Bangladesh since 1999, and we are extremely excited about expanding our presence in this important country," said Chuck Silverman, managing director and area head for the Asia South region of Wachovia.
"Bangladesh is a growing and vibrant market for international trade, and supporting our correspondent banking clients is consistent with Wachovia's global strategy of providing payment, collections, trade and capital markets solutions to financial institutions."
The Dhaka representative office will be led by Yusuf S Saadat, who joins as Wachovia's chief representative, and Shahnaz Sultana, deputy chief representative.
Wachovia is a global leader in correspondent banking and trade services, and maintains more than 7,000 correspondent relationships in more than 130 countries through a network of over 40 offices, including nine overseas branches.
Michael Heavener is executive vice president and head of Wachovia's Global Financial Institutions and Trade Services Group.
Heavener previously served as executive vice president and head of First Union's International Group prior to its merger with Wachovia; and as head of CoreStates' International Group before its acquisition by First Union.
Mr Heavener began his career with Philadelphia National Bank (later to become CoreStates Bank) in 1968. Beginning in 1972, he established representative offices in Bangkok and Manila, serving as the bank's first representative for Southeast Asia.
In 1978, Heavener was appointed general manager of Philadelphia International Bank in New York. In 1980, he was named by PNB as manager for Europe, Canada and the Middle East.
"We have been doing business in Bangladesh since 1999, and we are extremely excited about expanding our presence in this important country," said Chuck Silverman, managing director and area head for the Asia South region of Wachovia.
"Bangladesh is a growing and vibrant market for international trade, and supporting our correspondent banking clients is consistent with Wachovia's global strategy of providing payment, collections, trade and capital markets solutions to financial institutions."
The Dhaka representative office will be led by Yusuf S Saadat, who joins as Wachovia's chief representative, and Shahnaz Sultana, deputy chief representative.
Wachovia is a global leader in correspondent banking and trade services, and maintains more than 7,000 correspondent relationships in more than 130 countries through a network of over 40 offices, including nine overseas branches.
Michael Heavener is executive vice president and head of Wachovia's Global Financial Institutions and Trade Services Group.
Heavener previously served as executive vice president and head of First Union's International Group prior to its merger with Wachovia; and as head of CoreStates' International Group before its acquisition by First Union.
Mr Heavener began his career with Philadelphia National Bank (later to become CoreStates Bank) in 1968. Beginning in 1972, he established representative offices in Bangkok and Manila, serving as the bank's first representative for Southeast Asia.
In 1978, Heavener was appointed general manager of Philadelphia International Bank in New York. In 1980, he was named by PNB as manager for Europe, Canada and the Middle East.