Alan H. Fishman
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Alan H. Fishman (born 16 March 1946)[1] is an American businessman. He was the last CEO of Washington Mutual (WaMu)[2] prior to federal regulators seizing its assets on September 25, 2008.[3]
Education and career
Fishman holds a bachelor's degree from Brown University and a master's degree in economics from Columbia University. He was president and chief operating officer of Sovereign Bank and president and chief executive officer of Independence Community Bank.[4] He began work at Meridian Capital Group in 2007.[5] He was a private equity investor, focusing on financial services at Neuberger & Berman, Adler & Shaykin and at his own firm Columbia Financial Partners. He held senior executive positions at Chemical Bank and ContiFinancial Corporation.Script error: No such module "Unsubst".
Fishman was Chairman of the Board of Trustees of Brooklyn Academy of Music, on which he served for nearly 30 years, until January 2017.[6]
Washington Mutual
Fishman joined WaMu on September 8, 2008, replacing outgoing CEO Kerry Killinger as part of that bank's restructuring in the face of the subprime mortgage crisis.[7] He served as the bank's CEO for 17 days before its banking assets were seized by federal regulators in the largest bank failure in American history.[3] WaMu's banking operations were sold to JPMorgan Chase for $1.9 billion,[3] while the remainder of WaMu declared bankruptcy the next day.[8] According to C-Span on September 26, he was ultimately paid $19 million for three weeks of work at WaMu, including severance pay.[9] Meanwhile, the company's stock price dwindled to pennies after trading as high as $45 a share in 2007. The previous CEO was paid $14 million for one year on the job.
References
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