Magazine article American Banker


Magazine article American Banker


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L.M. "Bud" Baker has kept a low profile since retiring in February 2003 as Wachovia Corp.'s president and chief executive, but this month he will resurface at the helm of another organization.

On Sept. 8 will become the interim president of Old Salem Inc., a nonprofit that maintains a small Moravian community formed in 1766 in Winston-Salem, N.C. That was the headquarters city of the old Wachovia, which under Mr. Baker's leadership sold itself in 2001 to First Union Corp., which took its name.

Old Salem's president resigned this week. Its board, whose finance committee Mr. Baker leads, has formed a search committee to find a permanent president. A spokeswoman for the nonprofit said Mr. Baker was unavailable for comment.

Growth Marketer

Wells Fargo & Co. has a new leader for efforts targeting Latinos: Alfred C. Montoya, a 23-year company veteran.

Mr. Montoya, 43, started Thursday as the manager of the Latino segment of Wells' Diverse Growth Segments division. He is based in Phoenix and is responsible for planning and implementing business strategies and marketing programs for the Latino community throughout the company's markets.

Until Thursday he was its growth markets director for Arizona. He also leads the company's Arizona Growth Markets Advisory Board, which is made up of community leaders, and is a member of Wells' Corporate Diversity Council, which advises senior management.

In his new job he succeeded Liliana Gap, who took another assignment in the Diverse Growth Segments division, which also focuses on blacks, Asian-Americans, gays, lesbians, bisexuals, and transgender people. …

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