Wachovia Makes Grab for Krispy Kreme Exec
Phalen, the former chief financial officer of the doughnuts retailer will join as an investment banking managing director.
July 17, 2008
Michael Phalen, former chief financial officer of Krispy Kreme Doughnuts, has been hired as a managing director at Wachovia’s investment banking division.
In his new position, Phalen will be based in Charlotte, North Carolina, reporting to Joe Kennedy, head of financial services firm’s retail investment banking division. Phalen joins Wachovia from Oppenheimer, where he was a managing director following his four year tenure as CFO at Krispy Kreme. In addition,
Phalen also worked at CIBC World Markets and Deutsche Banc Alex.
Kennedy said of the hire, “[Phalen’s] experience as CFO at Krispy Kreme uniquely positions him to deliver top-notch solutions to our clients and to help meet their needs. Mike will be a great asset to this platform.”
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