25-Year Mortgage Veteran Joins WaMuSEATTLE, Aug 31, 2007 (BUSINESS WIRE) -- Washington Mutual, Inc. (NYSE:WM) today announced that John P.
McMurray is joining WaMu to serve as the company's Chief Credit
Officer, effective Sept. 24, 2007. He will report to Ron Cathcart, EVP
and Chief Enterprise Risk Officer.
McMurray, a mortgage industry veteran, most recently was Senior
Managing Director and Chief Risk Officer at Countrywide Financial
Corporation, Calabasas, CA.
At WaMu, McMurray will be responsible for the company's overall
credit risk strategy, credit risk and portfolio management, credit
policy and related functions including portfolio analytics and loan
review. In addition, he will advise line of business heads and their
credit organizations on strategic credit issues and will chair the
company's credit policy committee.
"We're very pleased to bring to WaMu someone of John's caliber in
this critically important role," said Kerry Killinger, WaMu's chairman
and CEO. "He is highly respected both in and outside the mortgage
industry for his demonstrated skill, industry knowledge and
leadership, all of which will bring immediate added value to our
Prior to joining Countrywide, McMurray served in senior leadership
positions responsible for credit risk management for a number of
mortgage-related companies, including Freddie Mac and Crestar Mortgage
McMurray is a Chartered Financial Analyst and a Certified Public
Accountant. He earned an M.S. from M.I.T., an M.B.A. from the
University of Texas at San Antonio and an undergraduate degree from
Trinity University, San Antonio.
"John will be a great addition to WaMu," said Ron Cathcart. "He is
extremely talented and we're very happy to have him join our group."
Cathcart also acknowledged the contributions of Clifford Rossi, who
has been the company's Chief Credit Officer. "Cliff's expertise has
made him a valuable member of the Senior Risk Team and we look forward
to his continued contributions in the area of credit."
WaMu, through its subsidiaries, is one of the nation's leading
consumer and small business banks. At June 30, 2007, WaMu and its
subsidiaries had assets of $312.22 billion. The company has a history
dating back to 1889 and its subsidiary banks currently operate
approximately 2,700 consumer and small business banking stores
throughout the nation. WaMu's press releases are available at
SOURCE: Washington Mutual, Inc.
Washington Mutual, Inc.
Libby Hutchinson, 206-500-2770
Alan Magleby, 212-702-6955