WaMu names new president and CFO

The bank has selected Robert Williams as its president. He has been the firm's corporate treasurer since February 2005.

Washington Mutual also named John Maciel as chief financial officer, general auditor and controller. He replaces William Kosturos, who will continue to serve as chief restructuring officer and secretary of the company.

Maciel will also occupy the roles of restructuring officer, assistant secretary and assistant treasurer. Since 2005, he has been a senior director at Alvarez & Marsal North America, a New York-based management consulting firm specialising in advisory and business consulting services for companies in transition.

On September 25, Washington Mutual was seized by the Federal Deposit Insurance Corporation and most of its operations - minus its senior unsecured and subordinated debt - were sold off to JP Morgan for $1.9 billion, in the largest bank failure in US history.

See also: Auction sets 57% recovery on Washington Mutual CDS
Bank failures cause chaos

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