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JPMorgan overhauls management at WaMu, but CIO Horvath's job not affected
Also See:
Bank CIOs Have Reason to be Nervous
Financial Services CIOs Will Be Busy
By Mel Duvall
JPMorgan Chase has told employees of Washington Mutual (WaMu) that they will know in 60 days if they'll have jobs with their new owner, according to a report by the Seattle Post Intelligencer.
Several top executives have already been told their services will no longer be needed, but high profile CIO Deborah Horvath is not one of them.
According to the newspaper report, JPMorgan Chase plans to let employees know by Dec. 1 whether they will have jobs with the merged organization. Already, the bank says that Alan Fishman, who joined WaMu as CEO on Sept. 8, is leaving the company. Also departing are Steve Rotella, president and COO, Todd Baker, executive vice president of corporate strategy and development, Daryl David, chief human resources officer, Michael Solender, chief legal officer and Frank Baier, who served as special assistant to Fishman.
The paper indicated that CIO Deborah Horvath and Chief Risk Officer John McMurray would be staying with the company.
WaMu employs some 43,000 people nationwide, but anxiety is highest in the Seattle area where there are more than 4,300 employees.
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