Industry Vet Retires as IndyMac Chairman

Mortgage industry veteran David S. Loeb, a co-founder of IndyMac Bancorp Inc., Pasadena, Calif., has retired as chairman of IndyMac as a result of health concerns.Mr. Loeb, 78, has been chairman of IndyMac since its inception in 1985 and was also a co-founder of Countrywide Financial Corp. in 1969. He will serve in the honorary capacity of chairman emeritus of IndyMac, the holding company for IndyMac Bank FSB, the company said. IndyMac's board of directors has appointed Michael W. Perry, the company's vice chairman and chief executive officer, to replace Mr. Loeb as chairman. Mr. Perry praised Mr. Loeb's "wisdom, foresight, and industry experience spanning more than four decades" for their "invaluable influence" on the company. IndyMac Bank can be found online at http://www.indymacbank.com.