SEATTLE--(BUSINESS WIRE)--Feb. 24, 2004--Washington Mutual, Inc.
(NYSE:WM) today announced the appointment of current credit risk
executive James A. Vanasek to chief enterprise risk officer.
Vanasek, 60, who will continue to oversee credit risk management
for the company, will now assume additional responsibility over
compliance, market and operational risk, internal audit, business
continuity assurance and security. He will continue to report to
Washington Mutual chairman, president and CEO Kerry Killinger.
Bill Longbrake, 60, who developed Washington Mutual's risk
management function, continues as Vice Chair and will serve as the
company's primary executive liaison with regulators, legislators,
industry trade organizations and government sponsored enterprises.
"This move represents our continued effort to build upon the solid
risk management discipline we have established at Washington Mutual,"
said Killinger. "Jim Vanasek is a seasoned professional with deep
understanding and familiarity with all facets of risk management. He
will continue to build on the excellent foundation that Bill and his
team created the past two years.
"At the same time, the company will benefit from Bill's
understanding and vast experience in regulatory and legislative
issues. Likewise, he will continue to be a key advisor to our
executive team on interest rate matters and national economic policy,"
Vanasek joined Washington Mutual in 1999 as senior vice president
and chief credit risk officer. He assumed his current position as
executive vice president and chief credit officer in 2001. Longbrake
joined Washington Mutual in 1982 as executive vice president and chief
financial officer, a position he held until 1995 when he began a
19-month assignment as chief financial officer and deputy to the
chairman for finance at the Federal Deposit Insurance Corp. (FDIC). He
assumed the CFO role upon his return in 1996 and took on the
Enterprise Risk Management role when current CFO Tom Casey joined the
company in late 2002. Presently, Longbrake is a Director of the
Federal Home Loan Bank of Seattle and is a member of the Board of
America's Community Bankers and serves as Chairman of the Financial
Services Roundtable's Housing Policy Council. He is also a member of
the Governor of Washington State's Council of Economic Advisers.
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 December
31, 2003, Washington Mutual and its subsidiaries had assets of $275.18
billion. Washington Mutual currently operates more than 2,400 consumer
banking, mortgage lending, commercial banking, consumer finance 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
Investor Relations Contacts
JoAnn DeGrande, 206-461-3186
Ruthanne King, 206-461-6421
SOURCE: Washington Mutual, Inc.