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|Washington Mutual Names Thomas Casey as Chief Financial Officer|
|SEATTLE, Oct 22, 2002 (BUSINESS WIRE) -- Washington Mutual, Inc. (NYSE:WM)
today announced that Thomas Casey, 40, will join the company as Chief Financial
Casey, who currently is a Vice President of the General Electric Company and Senior Vice President and Chief Financial Officer of GE Insurance, will oversee all aspects of Washington Mutual's corporate finance function, including planning and budgeting, accounting and financial reporting, internal management reporting, tax management, treasury operations and investor relations. He will report to Kerry Killinger, the company's Chairman, President and Chief Executive Officer.
Since 1997, Casey has been Senior Vice President and Chief Financial Officer of GE Financial, now part of GE Insurance, a consumer and investment business with assets under management of $119 billion and 2001 revenues of $13 billion. In his current role, he is also responsible for managing relationships with rating agencies, bondholders, insurance regulators and the Securities and Exchange Commission.
"Tom is an accomplished finance executive who brings to Washington Mutual the valuable combination of financial and operational expertise along with a strong strategic background," Killinger said. "He will play a vital role in the implementation of our strategy to drive greater efficiencies and profitable growth as Washington Mutual evolves into a national retailer of financial services."
"Washington Mutual is well positioned to leverage its national franchise and continue its strong growth focusing on middle market consumers," Casey said. "I am excited to be joining a team with a proven track record and a passion for growth and outstanding customer service."
Casey is a seasoned finance professional who began his career in 1984 at Coopers & Lybrand as an audit supervisor focusing on the financial services industry. He joined Citicorp in 1990 before moving to GE Capital Corp. in 1992, where he held advising, controllership and analyst positions prior to becoming Senior Vice President and Chief Financial Officer of GE Financial. When GE Capital restructured into four major businesses this year, Casey was given additional responsibilities of Senior Vice President and Chief Financial Officer for GE Insurance, a group of insurance businesses that includes GE Financial.
Casey has a Bachelor of Science, Accounting from Kings College in Wilkes-Barre, Pennsylvania.
Washington Mutual's current Vice Chair of Enterprise Risk Management and Chief Financial Officer, William A. (Bill) Longbrake, 59, will now assume full time his role as Vice Chair of Enterprise Risk Management.
With a history dating back to 1889, Washington Mutual is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At September 30, 2002, Washington Mutual and its subsidiaries had assets of $261.10 billion. Washington Mutual currently operates more than 2,500 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamu.com.
CONTACT: Washington Mutual, Inc. (Media Contact) Alan Gulick, 206/377-3637 email@example.com or Washington Mutual, Inc. (Investor Contacts) JoAnn DeGrande, 206/461-3186 firstname.lastname@example.org or Ruthanne King, 206/461-6421 email@example.com