SEATTLE--(BUSINESS WIRE)--Oct. 21, 2004--Washington Mutual, Inc.
(NYSE:WM) today announced that Taj Bindra, former Chief Financial
Officer and Executive Vice President for Chase Home Finance (CHF), 42,
will join the company beginning November 8 as Executive Vice
President, Finance and Servicing Operations of Mortgage Banking.
Bindra will be responsible for financial and mortgage servicing
right (MSR) management, capital markets activities, and servicing
operations for the company's mortgage banking business. He will be
located at the company's headquarters in Seattle, Wash., and report to
Craig Chapman, president of Washington Mutual's commercial and
mortgage banking businesses. In his capacity as chief financial
officer for the mortgage banking business, Bindra will also report to
Washington Mutual Chief Financial Officer Tom Casey.
Since 1999, Bindra has been Chief Financial Officer and Executive
Vice President of Chase Home Finance, a nationwide residential housing
lender and a leading originator of prime and subprime mortgages, home
equity, manufactured housing loans and housing-related insurance
products. In this role at CHF, he was responsible for managing the
accounting, tax, MSR valuation and risk management oversight,
planning, management accounting, financial analysis and forecasting
functions for all businesses within CHF. He also interacted with
regulators, external accountants and managed relationships with
"Taj's excellent leadership and financial skills will add more
strength to our already capable management team," Chapman said. "We
are excited to have an accomplished mortgage banking executive like
Taj join us during such an important time in the reshaping of our
mortgage banking business."
"I am excited to join a company that is doing something unique in
the financial services industry," Bindra said. "Washington Mutual is
serving everyday people through all of its businesses in a manner
unlike other financial services companies. I look forward to playing a
role and working with the company's excellent and dedicated mortgage
banking team as we undertake efforts to once again make the company's
mortgage banking business best-in-class."
Bindra is a seasoned finance and mortgage banking professional who
began his career in 1988 as Treasury Officer of Chase Manhattan Bank.
Two years later, he became Senior Manager, Financial Services
Consulting at Price Waterhouse, where he provided financial and risk
management consulting services to global financial institutions and
regional banks in the United States. He then returned to Chase in 1993
to become CHF's Vice President of the Mortgage Bank. In 1994, he was
promoted to Senior Vice President of CHF and Manager of Strategic
Planning and Analysis and served in that role until he was promoted
Chief Financial Officer and Executive Vice President of CHF in 1999.
Bindra has a Bachelor of Arts, Economics and Accounting from
University of Dehli in Dehli, India and a MBA, Finance and Accounting
from the University of Rochester in Rochester, New York.
About Washington Mutual
With a history dating back to 1889, Washington Mutual is a
retailer of financial services that provides a diversified line of
products and services to consumers and commercial clients. At
September 30, 2004, Washington Mutual and its subsidiaries had assets
of $288.83 billion. Washington Mutual currently operates more than
2,300 retail banking, mortgage lending, commercial banking and
financial services offices throughout the nation. Washington Mutual's
press releases are available at www.wamunewsroom.com.
CONTACT: Washington Mutual, Inc.
Alan Gulick, 206-377-3637
Alan Magleby, 206-490-5182
SOURCE: Washington Mutual, Inc.