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March 22, 2002

FNIS Assigns Top Management As Stock Soars

By Bridget McCrea
Inman News Features

Fidelity National Information Solutions is restructuring its senior management to focus the company on three business areas designated as data, services and solutions.

Something seems to be working well at the company, judging by the fact that its stock rocketed up 300 percent in the last four months. Today FNIS closed at $20.15.

The changes were announced at an executive meeting at the company?s offices in Santa Barbara, Calif., earlier this month, according to VP of Marketing Darcy Patch.

A majority-owned subsidiary of Fidelity National Financial, FNIS provides real estate tax services, credit reporting services, flood compliance services, automated valuation and appraisal services, environmental and natural hazard disclosure and other database-driven products.

Mark Senot, formerly CEO of FNIS? market intelligence business unit, has been named key sales and business strategist.

"Mark created an industry for valuations before they were widely used or accepted," said Patch. "We?ve now pulled him into a more business strategy, visionary role that will support business development."

Richard Ward, formerly EVP at large, also has a new title--EVP of sales and marketing. According to Patch, Ward now is charged with bringing together the sales and marketing efforts for FNIS? services channel.

"This was a very strategic move," said Patch. "Richard is now in a key executive-level position working directly with the CEO and president."

Other moves include Ray Ferrarin?s appointment as EVP in charge of services. Previously, he was president of FNIS? flood services division. Brian Hershkowitz also has a new title?EVP in charge of data--although his responsibilities are unchanged.

Patch said FNIS is still defining some business channels and employees? job descriptions. She said the changes were market-driven and implemented in response to customer needs. The goal is to break down the company?s traditional divisional walls, then create data, services and solutions divisions, the latter of which includes the company?s real estate offerings.

"The executives are doing what they?ve been doing all along," said Patch, "it?s just more official now."

Copyright: Inman News Service



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