Danny Ludeman Named RCGA Board Chair for Economic Development, Chair of the Economic Development Board of Trustees

March 6, 2009

DANNY LUDEMAN NAMED RCGA BOARD CHAIR FOR ECONOMIC DEVELOPMENT, CHAIR OF THE ECONOMIC DEVELOPMENT BOARD OF TRUSTEES

ST. LOUIS -- Danny Ludeman, President and Chief Executive Officer of Wachovia Securities LLC, has been named Chairman for Economic Development on the St. Louis Regional Chamber and Growth Association (RCGA) Board of Directors, and Chair of the Economic Development Board of Trustees. He succeeds Joe Imbs, Regional Chairman and St. Louis Market President – U.S. Bank, in these roles.

In announcing Ludeman’s appointment, RCGA Chairman of the Board Bob Reynolds, Chairman, President and Chief Executive Officer of Graybar Electric Co., commented, “In business it’s said there is no substitute for a ‘satisfied customer.’ Having relocated his family to St. Louis from Richmond, Virginia in 2007 as part of the Wachovia Securities HQ relocation here, Danny has experienced our state and region’s economic development first hand. We are delighted that one of our region’s newest business leaders will now be leading our community’s economic development efforts.”

Ludeman noted, “I am delighted to have the opportunity to play a leadership role in the RCGA and in the economic development of the St. Louis region. St. Louis already has built a strong foundation in the positioning and branding of the region in the national and global marketplace. I look forward to supporting the region's efforts to recruit jobs and companies to St. Louis, to nurturing the region’s entrepreneurial base, and to building greater regional collaboration into our community’s economic development marketing, strategies and delivery.”

“I appreciate the continued leadership of the RCGA in the region’s marketing and economic development, and I look forward to working with an outstanding 2009 RCGA Board of Directors to further unite the region’s business community,” Ludeman added.

A President and Chief Executive Officer Dick Fleming noted, “We went through a very deliberative process in recruiting Danny Ludeman, with strong support from RCGA Chairman Bob Reynolds and Civic Progress President Rich McClure. Danny has led Wachovia Securities through two successive mergers and acquisitions in a manner that bodes well for the St. Louis region, and we are delighted that he has stepped into this role to lead our region’s economic development efforts.”

An active business and civic leader, in addition to the RCGA, Ludeman is a member of Civic Progress, serves on the Board of Directors for the United Way of Greater St. Louis, and on the board of the University of Richmond.

The RCGA is the chamber of commerce and economic development organization for the 16-county, bi-state region. The mission of the RCGA is to unite the region's business community, and to engage dynamic business and civic leadership to develop and sustain a world-class economy and community.

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