Rules of engagement

As co-heads of global structured products at Wachovia Securities, Richard Sandulli and Richard Silva are well-placed to expand the business following the acquisition of AG Edwards. The deal makes Wachovia the second-largest structured products retail channel in the US by registered brokers - within reach of Merrill Lynch

SPA: The structured products volume at Wachovia is up about 250% since you were recruited from Morgan Stanley 23 months ago. To what do you attribute this success?

Richard Silva: When we arrived at Wachovia we found an equity structured products business in its infancy. Some foundation had been laid but there remained a significant amount of work to integrate the business into the overall firm platform - developing financial adviser education and training tools, sharpening the suite of product

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