Karen H. Wimbish, Wachovia Securities; Latin America Group president, to deliver Robins School of Business' Watts Lecture on "Universal Banking"

February 27, 2009

Karen H. Wimbish, president of Wachovia Securities’ Latin America Group, will give the Robins School of Business’ annual Stanley S. Watts Lecture on the topic of “Universal Banking,” March 5, 4 p.m., at Camp Concert Hall on the University of Richmond campus.

Universal banking had its origins the late 1990s, when the Gramm-Leach-Bliley Act allowed many large banks to gather traditional and investment banking as well as retail brokerage under one bank holding company. With the financial crises of the last 18 months, many of these bank holding companies have come under severe financial pressure.

Wimbish will discuss whether or not the universal bank model contributed to banks’ recent problems, if any made it work and if a place still exists for it in the financial services industry of the future.

A summa cum laude graduate of Richmond with a bachelor’s degree in mathematics and economics, Wimbish has executive responsibility for Wachovia Securities’ Latin American activities conducted by offices in four southern hemisphere countries, as well as through the Miami and New York international offices and a branch in San Juan, Puerto Rico.

She held previous positions as chief operating officer of Wachovia Securities Financial Network, chief administrative officer of the firm’s independent brokerage group, and head of relationship management and brokerage operations at its investment management subsidiary.

Wimbish has worked 17 years in banking, both commercial and retail, with roles in credit administration, project management and training. She holds the chartered financial analyst designation and also graduated from the School of Banking of the South and the Securities Industry Institute at the University of Pennsylvania’s Wharton School of Business.

The annual Watts Lecture is free and open to the public. For more information, call (804) 289-8813.