North Carolina headquartered national US bank, Wachovia, named Susan Mucciarone managing executive of its wholly-owned but independently branded private wealth subsidiary, Calibre, the third biggest private wealth multi-family office in the country.

With around $18 billion in client assets Calibre competes in the same market as specialist private wealth brands in the US including Bessemer Trust and Harris myCFO for the assets of families with multi-generational wealth, using sophisticated investment strategies and full service wealth management.

Ms Mucciarone, who replaced the retiring Dan Prickett, reports to Stanhope Kelly, president of Wachovia Wealth Management.

Ms Mucciarone is now in charge of the four Calibre offices located in Philadelphia, Boston and West Palm Beach, that make up Wachovia Wealth Management's Ultra High Net Worth business.

Calibre provides wealth management services including financial and tax planning, trust and estate administration, asset strategy and investment management, private banking and credit services, investment custody, family dynamics and charitable services to clients referred by the bank with investable assets of $25 million and up.

Ms Mucciarone was previously regional managing director for Calibre in Philadelphia. She joined Wachovia in 1995 as managing director of alternative investments, then became managing director of wealth management for the mergers and acquisitions business in Wachovia before joining Calibre in 2001.