Two minutes with Stan Gregor of Wachovia

Long Island Business News, Jun 6, 2008 by Claude Solnik

Banks target a wide range of clients, but Stan Gregor specializes in working with the wealthy. He took his current title at Wachovia nearly a year ago, first working on Long Island before heading for the firm's Charlotte, N.C. headquarters four months ago. Gregor now leads efforts to serve Wachovia clients who have $5 million to $50 million in assets. We checked in with him about Wachovia, wealthy clients and his plans to grow the bank on the Island.

The economy isn't doing that well. How are the wealthy doing?

We're actually hearing positive comments from our clients. A lot of the noise that you and I hear and read about is sometimes isolated to specific industries, e.g., real estate and construction.

What areas are doing well?

I wouldn't say it's a specific segment. It's vastly diversified. The overall mood is cautiously positive.

Wachovia recently hired two executives come from BNY Mellon Wealth Management. What else are you doing to grow your business?

We are on a massive hiring initiative to hire high-quality, proven professionals in our space. We are further expanding our offices in Melville and Huntington. We're continuing to expand on the Island.

What attracts you and Wachovia to the Long Island market?

The demographics are right in line with the wealth segment demographics we're looking for.

I'm sure you miss Long Island. But how are things similar or different now that you live in the South? You're familiar with Garden City?

Charlotte reminds me a lot of Garden City. It's real nice, cozy and friendly. Very convenient. To me, it's got that feel.