Washington Mutual Names Purcell, Kendrex To Head Syndicated Finance

SEATTLE - Washington Mutual Inc. said Monday it formed a syndicated finance group, naming Dave Purcell and Bruce Kendrex as vice presidents to lead the syndicated loan origination and participation business.The creation of the group is part of a broader push by Washington Mutual to expand commercial and consumer loans and lessen its dependence on interest-rate sensitive residential mortgages.

The team will be part of Wamu's commercial banking group, which provides services under the auspices of Western Bank, its Seattle-based commercial banking subsidiary, and WM Business Bank in California.

Mr. Purcell and Mr. Kendrex were both previously business banking officers at Western Bank. Before joining Wamu in January 1999, Mr. Purcell headed U.S. corporate banking for Bank of Tokyo-Mitsubishi's Seattle branch. Mr. Kendrex was formerly with Sumitomo Bank in Seattle.

Cowen Hires Five M&A Bankers From Deutsche Alex. Brown

SG Cowen, the U.S. investment banking unit of Societe Generale Group, said Monday it lured a five-person mergers and acquisition team from Deutsche Banc Alex. Brown in the Washington D.C.-area.Leading the group is Paul Mellin, a managing director, who spent three years at Deutsche Banc Alex. Brown.

He is joined by Eric J. Gaaserud, vice president, Javier E. Aguirre and Craig Rosenblum, both analysts, and Timothy Maroney, an associate. The five will report to M. Benjamin Howe, a lead investment banker at the firm, who is based in Boston.

- Compiled by Laura Mandaro

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