Westcorp CEO Named Company President

Joy Schaefer has been appointed president of Westcorp, an Irvine financial services holding company.

She will continue to serve as chief operating officer. Schaefer also holds the positions of chief operating officer of Western Financial Bank, and vice chairman and chief executive of WFS Financial, an automobile finance company. Both are subsidiaries of Westcorp.

Ernest S. Rady will continue as chief executive of both Westcorp and Western Financial Bank. In addition, James E. Tecca was named president of Western Financial Bank. Tecca has been executive vice president and head of the Commercial Banking division since 1996.

Thomas Wolfe has been named president and chief operating officer of WFS Financial. Wolfe had been executive vice president and national production manager since 1998.