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MCDOWELL ELECTED CHIEF EXECUTIVE OF WACHOVIA BANK OF NORTH CAROLINA

 WINSTON-SALEM, N.C., April 26 / PRNewswire/ -- J. Walter McDowell, 42, has been named president, chief executive officer and a director of Wachovia Bank of North Carolina effective May 1. The appointments were made by the bank's board of directors at their April meeting.
 The board of directors of Wachovia Corporation (NYSE: WB) at their meeting Friday elected McDowell an executive vice president of the holding company.
 McDowell will report to L. M. Baker Jr., 50, president and chief operating officer of Wachovia Corporation. Baker has served as head of the North Carolina bank since 1990 and in February assumed responsibility for all business operations of the corporation.
 "This action puts an extremely talented leader in charge of North Carolina banking activities," Baker said. "Walter McDowell has displayed exceptional performance in every assignment at Wachovia. He and the other capable Wachovians on the North Carolina bank management team are well prepared to carry the company forward."
 Since joining Wachovia in 1973, McDowell has held assignments as a Personal Banker, corporate banking manager and head of the Piedmont Triad Region. In 1992, he organized the Retail Banking Support Services Group of the holding company and assumed administrative responsibility for the bank's retail and corporate banking areas.
 McDowell is a native of Winston-Salem and a graduate of the University of North Carolina at Chapel Hill where he also completed the Young Executives Program.
 -0- 4/26/93
 /CONTACT: (Media) Nancy P. Lovelace, 919-770-5696, or (Analysts) Robert S. McCoy Jr., 919-770-5926, or James C. Mabry, 919-770-5788, all of Wachovia Corporation/
 (WB)


CO: Wachovia Bank of North Carolina; Wachovia Corporation ST: North Carolina IN: FIN SU: PER

CM -- CH010 -- 0739 04/26/93 13:12 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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