Downey President to Resign at Month’s End

Downey Financial Corp. said its president and chief executive, Marangal “Marito” Domingo, would resign as of the end of this month and be replaced by Daniel D. Rosenthal, who had held those positions for more than five years before Domingo took over in February.

Domingo, a former executive vice president at Washington Mutual Inc., “decided to pursue other interests,” the Newport Beach-based parent of Downey Savings & Loan Assn. said.

The thrift is the second-largest banking concern based in Southern California, trailing Beverly Hills’ City National Bank in deposits and Pasadena’s IndyMac Bank in assets.