Wachovia News - Subsidiary Bankruptcy and CFO Search Continues

Per Reuters, "Wachovia's BluePoint Re files for bankruptcy in NY." See my post yesterday, "Wachovia's Fire No Longer Just in the Kitchen."

So far, this doesn't have much of an impact on their stock price which is up big from yesterday. Something to keep an eye on.

Also of interest, Wachovia still looking for a CFO. The Observer says,

"Possible CFO candidates cited by analysts include Chris Marshall, who previously held executive posts at Bank of America Corp. and Fifth Third Bancorp, and William Demchak, a vice chairman of Pittsburgh-based PNC Financial Services Group Inc. Marshall and PNC have declined comment. Analysts also say Steel could turn to former colleagues at investment bank Goldman Sachs Group Inc. or at the U.S. Treasury Department."

In placing these two stories together, I'm struck by just how challenging the new CFO's job is going to be.