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| Stephen Wade |
Stephen Wade has been appointed global head of credit risk management for leveraged, structured & real estate finance at Deutsche Bank, according to an internal memo from Hugo Banziger, chief risk officer. As first reported on Credit Investment News' Web site, he replaces Ryan Zanin who is headed to Wachovia Securities to become the chief risk officer for Wachovia's corporate and investment bank. Last Thursday Wade was appointed to the Risk Execution Committee, which consists of the top risk managers from the different disciplines within the bank. A Deutsche Bank spokesman confirmed the hire.
Wade joined Deutsche Bank in 2000 and has held a number of positions including co-chief credit officer for institutional and corporate credits, and global head of industry risk management. Before joining DB, he worked at UBS for 13 years.
At Wachovia, Zanin will be replacing David Gaines, who has retired. As also first reported on CIN's Web site Sept. 15, Zanin is currently on gardening leave and is expected to start in late October. A Wachovia spokeswoman confirmed the hire. Zanin could not be reached. He will be reporting to Don Truslow, chief risk officer for Wachovia Corp., and will work closely with Steve Cummings, co-head corporate and investment banking. The position is located in both New York and Charlotte, N.C.
Before retiring, Gaines had worked at Wachovia for 21 years and took over the role as chief risk officer in 2001.
