Arcadia Financial Names James F. Connaughton Senior Vice President, Risk Management

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Arcadia Financial Names James F. Connaughton Senior Vice President, Risk Management
    MINNEAPOLIS, May 19 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC) has
named James F. Connaughton to the newly created position of Senior Vice
President, Risk Management.  In this position, Connaughton will oversee
analysis of Arcadia Financial's underwriting and loan portfolio performance
statistics to assist the company in optimizing risk-adjusted profitability.
Connaughton will report directly to Scott H. Anderson, Vice Chairman, Credit
Administration and Operations.
    Connaughton joins Arcadia from Wells Fargo Bank, San Francisco, where he
was Vice President and Manager, Risk Management & Predictive Technologies, for
the bank's Auto Finance Group.  In this position, he was responsible for risk
management and credit quality analysis for the bank's $7.1 billion of
automobile loans and leases.  Connaughton joined Wells Fargo in 1991 in the
credit policy and reporting area.  He was named Vice President, Asset
Strategy, in April 1992 and served as Vice President, Retail Risk Management,
from January 1995 to December 1995.  Before joining Wells Fargo, Connaughton
was a Project Manager for Risk Management Solutions at Fair Isaac in San
Rafael, Calif.
    "James brings us broad and deep experience in the analysis of credit risks
and opportunities that will augment our ongoing efforts to deliver predictable
profitability from our core operations," said Richard A. Greenawalt, Arcadia
Financial's President and Chief Executive Officer.
    Connaughton holds a master's degree in statistics from the University
College of Dublin, earned a post-graduate diploma in applied statistics from
Trinity College at the University of Dublin and has a bachelor's degree in
mathematics, also from the University College of Dublin.
    Arcadia Financial Ltd. is a Minneapolis-based consumer financial services
company specializing in purchasing, selling and servicing retail installment
contracts for new and used automobiles originated by more than 8,300 dealers
in 42 states.  The company, founded in 1990, is the nation's largest
independent provider of automobile financing.  Its 18 Regional Buying Centers
are located in Arizona; northern and southern California; Colorado; Florida;
Georgia; Maryland; Massachusetts; Minnesota; Missouri; New York; North
Carolina; Ohio; Tennessee; north, south and west Texas; and Washington.
SOURCE Arcadia Financial Ltd.