Wachovia continues to hire senior private banking executives as it targets “high growth” markets in the US – this time Winston Wilkinson, a former employee who left the firm in 2006 to work with a rival bank, returned to Wachovia to head Wealth Management Private Banking for the western region.

Mr Wilkinson will be responsible for establishing and leading private banking teams in California and Arizona and reports to managing executive of Wealth Management Private Banking, Morrison Creech.

Mr Wilkinson was lured back to Wachovia after a short stint at Fifth Third Bank.

Mr Creech had previously commented that Wachovia’s hiring is targeted in “high-growth markets” in the US including Florida, California, Texas and New York.

The firm said it also planned to add new teams in Los Angeles, San Francisco and Phoenix.

The Private Banking business, previously known within Wachovia Wealth Management as the Private Advisory Group, has a stated target to more than double its 240 relationship managers over the next three years.

Earlier this month Wachovia appointed executives in a similar role to Mr Wilkinson in new private banking businesses in Florida and North Carolina.

This year Wachovia Securities acquired 6,600 advisors through its purchase of independent brokerage business A.G. Edwards. The $6.8 billion acquisition is set to close in the fourth quarter of this year.

Wachovia is the fifth largest wealth manager in the US according to researcher Barrons, with assets of $719.9 billion and a market capitalisation of $97.5 billion.