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Washington Mutual names Nandita Bakhshi as executive vice president of payments

SEATTLE, WA - Washington Mutual, Inc. (NYSE:WM) announced that it has hired Nandita Bakhshi as executive vice president and manager of payments in its retail banking group.

Bakhshi, a 20 year veteran in the banking and payment industries, is responsible for leading the transaction business, including product and strategy management supporting free checking, ATMs, debit card, and risk operations and payments. She is also responsible for evolving the company's enterprise payment strategy and initiatives for the retail bank. She is located at the company's headquarters in Seattle and reports directly to Kenneth Kido, president of retail banking at Washington Mutual.

"Nandita is a recognized leader in the financial services and mobile payment industries with a successful track record in managing all retail payment channels and working with strategic partners," said Kido. "She joins an already strong team and her strategic planning and leadership skills will ensure our payment programs will continue to be industry leading."

Before joining Washington Mutual, Bakhshi worked at First Data International, where she served as the managing director of the multi-national mobile solutions division. Her background also includes serving as executive vice president of the deposit and payment product group at FleetBoston and later executive vice president and transition executive during the Bank of America/FleetBoston merger. She also held positions at Home Savings of America and Banc One Corporation.

Bakhshi graduated from Calcutta University in Calcutta, India, with a bachelor's degree in history and received her master's degree in international relations from Jadavpur University in Calcutta. She currently serves on the board of directors for the Mobile Payments Forum and previously served on the board for NYCE/First Data Corporation and the National Automated Clearing House Association (NACHA).

About Washington Mutual
With a history dating back to 1889, Washington Mutual is a leading provider of financial services to consumers and small businesses. At December 31, 2005, Washington Mutual and its subsidiaries had assets of $343.12 billion. Washington Mutual currently operates more than 2,600 retail banking, mortgage lending, commercial banking and financial services offices throughout the nation. Washington Mutual's press releases are available at http://newsroom.wamu.com

Media Contact: Mary Kelley
206.377.6878
mary.kelley@wamu.net