SEATTLE--(BUSINESS WIRE)--Nov. 18, 2002--WaMu Capital Corp., a
fixed-income institutional broker-dealer and subsidiary of Washington
Mutual, Inc. (NYSE:WM), has hired John Drastal as the managing
director of trading.
Drastal will oversee all fixed income trading and risk management
within the firm, and will act as primary contact within the dealer
"John will play a key role as WaMu Capital Corp. continues to
build out its mortgage and securitization platform," said Tim Maimone,
president, WaMu Capital Corp. "Over the next year we expect to
strategically grow our sales and trading operations. We also plan to
open a New York sales office to complement our current offices in
Seattle and Los Angeles."
Drastal brings a wealth of Wall Street experience to the
broker-dealer. Prior to joining WaMu Capital Corp., Drastal spent five
years as managing director and principal for Donaldson, Lufkin and
Jenrette, where he was responsible for all aspects of the mortgage and
asset-backed security trading business, including position and risk
management, personnel, distribution, research, finance, operations and
new business development.
In his 14 years of experience in fixed-income trading and
management, Drastal has also held senior positions at Goldman Sachs
and Company, Lehman Brothers Inc. and Drexel, Burnham and Lambert.
Drastal holds a master's degree in industrial administration (MBA)
from Carnegie Melon University and earned a bachelor's degree in
computer science from the University of Delaware.
About Washington Mutual
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.
||P. Kevin Horn, 206/377-3268