CHICAGO — San Francisco-based Wells Fargo & Co. announced Thursday that Phil Smith will lead its municipal products unit and government banking as the firm merges its muni operations with newly acquired Charlotte-based Wachovia Corp.

The bank’s announcement of a series of key management positions, including Smith’s, marks a significant step in Wells Fargo’s efforts to blend the operations of the two firms following the acquisition that closed at the end of last year.

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