Peter Cieszko, president of global distribution at Evergreen Investments, will be leaving in January to pursue other opportunities, said Evergreen spokeswoman Laura Fay.
He had been selected to replace Dennis Ferro as president and CEO of Evergreen when Mr. Ferro retires Dec. 31. Mr. Cieszko was chosen in July before Wells Fargos acquisition of Evergreen parent Wachovia Corp.
However, Wells Fargo now will combine Evergreens operations with Wells Fargos institutional and retail money management arms. Michael Niedermeyer, group head of asset management for Wells Fargo, will run the combined group, Ms. Fay said.
Wachovia shareholders today approved the acquisition by Wells Fargo, effective Dec. 31.
Ms. Fay had no information on Mr. Cieszkos immediate plans.