Washington Mutual Base Case

By Kim S. Nash  |  Posted 2002-09-15 Print this article Print

When Washington Mutual acquires another bank, there is no question about whose technology will prevail. But the clear expectation-setting seems to inspire loyalty, not resentment.

Washington Mutual Base Case

Headquarters: 1201 3rd Ave., Seattle, WA 98101

Phone: (206) 461-2000

Business: Banking and financial services

Chief Information Officer: Jerry Gross

Financials in 2001: $17.7 billion in sales, $3.1 billion net income

Challenge: To make the 32 banks acquired since 1983 look and act as one

Baseline Goals (by 2004):

  • Achieve greater than 20% return on equity
  • Grow earnings per share more than 13%
  • Improve efficiency ratio—a key measure of bank profitability two percentage points

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    Senior Writer
    Kim has covered the business of technology for 14 years, doing investigative work and writing about legal issues in the industry, including Microsoft Corp.'s antitrust trial. She has won numerous awards and has a B.S. degree in journalism from Boston University.

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