Wells Fargo has appointed Pamela M. Conboy as the president of Wells Fargo Arizona Regional Banking. In her new position, Conboy will be responsible for 261 branches, 4,000 team members, and assets worth $15.4 billion. Conboy has held many leadership positions in her 28 years with the San Francisco-based bank. She has been an executive vice president and manager of the Wells Fargo Regional Banking learning and sales development team and also served as the bank's Northern California regional president from 2001 to 2004.
Wachovia appoints regional private-banking head
Wachovia bank's wealth-management unit has hired Jeff Hartman as the private-banking director for its Carolinas/Virginia, mid-South, and Georgia region. Hartman will be based in Charlotte and will focus on increasing revenue and the wealth-management unit's client base. He will work with Wachovia's general bank management in the region as well as the company's capital management group and Wachovia Securities. Hartman previously served as director of the private advisory group at Wachovia. The Charlotte-based company's private-banking division employs about 240 relationship managers and plans to double that number in the next three years.
First Bancorp to acquire Great Pee Dee Bancorp, Inc.
First Bancorp and Great Pee Dee Bancorp, Inc., have announced the signature of a merger agreement. According to the agreement, the shareholders of Great Pee Dee's stock will receive 1.15 shares of First Bancorp stock per share of Great Pee Dee stock held. The transaction, which is expected to be completed late in the fourth quarter of this year or early in the first quarter of 2008, is valued at approximately $38.2 million. First Bancorp, the holding company of First Bank, is headquartered in Troy, NC, and has assets worth $2.1 billion.
