SEATTLE--(BUSINESS WIRE)--Feb. 12, 2007--Washington Mutual, Inc.
(NYSE:WM) announced today that Anthony (Tony) F. Vuoto has been named
president of the company's credit card business. Vuoto was also
appointed to WaMu's Executive Committee and will now report to WaMu
President and Chief Operating Officer Steve Rotella.
Vuoto previously served as senior vice president and chief
financial officer for WaMu Card Services. The 25-year credit card and
banking industry veteran succeeds Joseph W. Saunders who accepted a
position as executive chairman of Visa Inc. Saunders will remain on
board with WaMu until the end of February to help ensure a smooth
transition of responsibilities.
"We're really pleased to have Tony leading our Card Services
division," said Kerry Killinger, WaMu's chairman and chief executive
officer. "He's played an integral role in helping us build our credit
card business into a top tier national card issuer, and we expect the
business to continue to grow under his capable leadership."
Killinger added, "I wish to congratulate Joe Saunders on his new
role with Visa and to thank him for helping us flawlessly integrate
Providian Financial into WaMu. He did an outstanding job managing our
credit card business and grooming Tony for this key leadership
position. We expect a seamless transition as we continue building the
nation's leading consumer and small business bank."
Vuoto joined WaMu in October 2005 through its acquisition of
Providian Financial. He had served as vice chairman and chief
financial officer at Providian since April, 2002. Prior to joining
Providian, he was president and chief operating officer of First USA
Bank, a credit card subsidiary of Bank One Corporation. Vuoto also
served as president of Bank One's Consumer Lending division.
In addition, Vuoto has held executive positions with Citigroup,
including chief financial officer of the company's Europe/North
America Card Group, Financial Institutions and Transaction Services
Group, and Citicorp's U.S. Bankcard Division.
Vuoto holds an MBA from the Wharton School of Business and a
Bachelor of Arts degree from Princeton University.
About WaMu Card Services
WaMu is the nation's sixth largest bank card issuer with more than
$23.5 billion in managed receivables as of Dec. 31, 2006. WaMu serves
almost 11 million credit card customer accounts.
WaMu, through its subsidiaries, is one of the nation's leading
consumer and small business banks. At December 31, 2006, WaMu and its
subsidiaries had assets of $346.29 billion. The company has a history
dating back to 1889 and its subsidiary banks currently operate more
than 2,600 consumer and small business banking stores throughout the
nation. WaMu's press releases are available at
Alan Gulick, 206-500-2760
Alan Magleby, 206-500-4148 (Seattle)
212-326-6019 (New York)
SOURCE: Washington Mutual, Inc.