Quick Hits: WaMu Evicts Killinger
Kerry Killinger is out as CEO of Washington Mutual (WM) the nation's largest savings and loan. Killinger will be replaced by Alan H. Fishman former president and chief operating officer of Sovereign Bank (SOV) and president and CEO of Independence Community Bank. Killinger's departure follows that of Wachovia (WB) CEO Ken Thompson and Citigroup's (C) Charles Prince. Job security for bank presidents is plummeting in the wake of the mortgage crunch. Like many other banks Washington Mutual has been hammered by rising mortgage delinquencies and defaults as the value of its mortgage portfolio declines. Killinger lost the title of Chairman ...
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