Washington Mutual Inc. of Seattle said Tuesday that it has revamped its management structure.
Many centrally managed functions have been shifted to one of three major groups: consumer banking, mortgage banking, and corporate services. For example, deposit operations, which was overseen by the thrift's technology unit, was shifted to consumer banking.
"We're modifying our organizational structure to position Washington Mutual for even greater success as a larger and more diverse company," chairman Kerry K. Killinger said.
Having recently absorbed H.F. Ahmanson & Co., the $174.3 billion-asset company decided to take "a step back and look at what kind of structure makes sense for our size," a spokeswoman said.
Deanna Oppenheimer, executive vice president of consumer banking, was named president of that group. Craig Davis, executive vice president of mortgage banking and financial services, is now president of mortgage banking.
Treasurer Marito Domingo was named chief financial officer of mortgage banking. Several other functions remain centralized under the corporate services unit overseen by vice chairman Craig Tall. Corporate communications manager Bill Ehrlich joined the executive committee and was promoted to executive vice president of corporate relations.
Wamu also said it plans to expand Internet banking beyond California, Texas, and Florida by the end of summer, and will be originating mortgages over the Internet this fall.