The transition into the National Commercial Operations Center will be completed by early March 2003. To date, 30 of the 50 employees opting for relocation to Dallas-Fort Worth are in place while 70 new hires have been made. All told, the Gateway Office Center at 555 Dividend Dr. will employ 220.

The Houston portfolio, consisting of 800 accounts valued at $4 billion, was put into position in a weekend shift of people, files and data, Stewart Miles, Washington Mutual's senior vice president in Dallas, tells GlobeSt.com. All went as planned, he says. The Uniondale, NY portfolio is scheduled to move Dec. 9. Stockton, CA's rolls in Jan. 31, 2003 while another Houston account comes in Feb. 17.

"At the end of the day, $32 billion of assets will be under management in Coppell," he says. Seattle and Costa Mesa, CA also will be affected by Washington Mutual's strategy change.

Miles says the Coppell location was selected for its proximity to the Dallas-Fort Worth International Airport. The metroplex, in general, was selected for its middle of the US positioning that will enable the financial institution to operate two shifts on a 7 a.m. to 7 p.m. schedule that keeps the phones answered during East Coast or West Coast business hours.

The office consolidation frees up space and employees for Washington Mutual's planned push in the multifamily lending arena. In Dallas-Fort Worth, the financial services company's real estate includes more than 100 retail centers and a regional headquarters.