UPDATE 1-Wachovia risk chief to depart, follows CFO exit

NEW YORK, July 31 (Reuters) - Wachovia Corp WB.N said on Thursday its chief risk officer, Donald Truslow, will retire, joining the chief financial officer, Tom Wurtz, in leaving the fourth-largest U.S. bank, which last week posted a record $8.86 billion second-quarter loss.

Truslow has worked at Wachovia and predecessor companies since 1980, and became chief risk officer in 2000. The resignation of Wurtz, who became CFO in January 2006, was announced on July 24.

Truslow and Wurtz are the first senior Wachovia executives who will leave since Robert Steel, a former U.S. Treasury undersecretary and Goldman Sachs Group Inc (GS.N) vice chairman, was named chief executive three weeks ago.

Steel replaced Ken Thompson, who was ousted in early June after a series of financial and legal setbacks, including a poorly timed, $24.2 billion purchase in 2006 of California mortgage specialist Golden West Financial Corp.

Both Truslow and Wurtz said they will leave once successors are named.

In a statement, Truslow called Wachovia an "excellent company" and praised Steel's "strong leadership." Wurtz said the same a week ago.

Wachovia shares closed Thursday up 19 cents at $17.27 on the New York Stock Exchange. They are down 55 percent this year. (Reporting by Jonathan Stempel; editing by Jeffrey Benkoe)