David S. Powell
Executive Vice President
Contract Negotiations

Office: (704) 663-2544
Mobile: (704) 999-6302

David brings over 30 years of experience in the financial services industry to his role as an industry expert.  More than 17 of those years were with Wachovia Corporation, now a Wells Fargo company.  Throughout his banking career, David held multiple senior level positions to include: Senior Vice President and Controller for Wachovia’s Wealth Management Business, Senior Vice President and Director of External/Regulatory Reporting for Wachovia Corporation and Senior Vice President and Director of Budget and Strategic Planning for Wachovia Corporation, Dominion Bankshares and Sovran Financial Corporation.  Over the span of his banking career, David gained broad knowledge of traditional banking, investment banking, insurance, brokerage, wealth management and honed core competencies such as:

  • Strategic Planning
  • Budgeting and Forecasting
  • GAAP/Regulatory Reporting
  • Internal Controls/Sarbanes Oxley
  • Management and Board Reporting
  • Mergers and Acquisitions
  • Process Re-engineering
  • Expense Management & Control
  • Complex Financial Analysis & Modeling
  • Business Process Outsourcing

One of David’s significant achievements while at Wachovia was the development and implementation of the first multi-dimensional corporate-wide budget and forecasting platform using ESSBASE and EXCEL that is now a product in the Oracle suite.  He also transitioned the corporation to a “rolling forecast” concept eliminating the time consuming “zero based” budgeting process, cutting the planning cycle time in half.   This platform was built around sophisticated RAROC and SVA concepts to enhance true profitability measure and analysis.

Complimenting David’s banking experience; he served as Senior Vice President and Director of Outsourcing and Off-shoring for the Wealth Management division of Wachovia Bank.   He facilitated the successful transition of such functions as insurance accounting and billing operations, trust asset transfer operations, and investment performance measurement operations; resulting in 30% savings while maintaining 98% proficiency.  Building on this experience, David then accepted a role as the Executive Director of Knowledge Process Outsourcing (KPO) Solutions for an international financial services outsourcing and off-shoring firm headquartered in Toronto, Canada.

David is a graduate of Old Dominion University in Norfolk, VA, with a B.S. Administration – Finance Concentration, a graduate of Peter Block’s “The School for Managing”, and a graduate of Applied Mergers & Acquisitions concepts developed by Robert F. Bruner Executive Director of Darden Graduate School, UVA