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RALEIGH - Wachovia Bank will make every senior Triangle-based bank manager who worked for Wachovia or First Union reapply for their jobs, resulting in uncertainty among some highly paid executives.
Jack Clayton, who will head up operations in the Triangle and the Sandhills for the merged bank, will have to fill seven positions that will report directly to him. As many as 15 managers could qualify for those positions.
The reapplication process has started to spread across the "new" Wachovia corporate tree as senior managers from both banks have begun reapplying for about 90 top home office slots.
"It's an orderly process," says Clayton. "And it gives people a chance to think about what they are doing and whether they want to change jobs or locations."
In the Triangle, executives from both banks, many of whom have been at their respective companies for years, will start reapplying for such positions as director of asset and wealth management, director of small business operations, and head of real estate and commercial operations.
This reapplication process soon will be put in play at the lower rungs of the organizational chart. But filling the management slots is not the only task ahead for the transition team putting together a combined entity to be called Wachovia and headquartered in Charlotte. The new bank will...