Wachovia names Steel CEO, sees loss

 09.07.2008 20:13   washingtonpost.com

NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, named Treasury Undersecretary Robert Steel chief executive on Wednesday, and said mortgage and legal problems will result in a $2.6 billion to $2.8 billion second- quarter loss, much larger than many analysts expected.

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