First American Names New President of Information Group
|December 8, 2009|
The First American Corp. announced Dec. 4 the departure of Frank V. McMahon from his position as chief executive officer of its Information Solutions Group. At the same time, the company said it has named the former CEO of recently acquired First Advantage Corp. as president of the group.
Anand K. Nallathambi will now serve as president and COO of the Information Solutions Group.
First American stated that McMahon is leaving the company after serving as the group’s CEO for the past 19 months. McMahon was previously First American’s vice chairman and chief financial officer from 2006-2008. Before that, he was an advisor to the company while a managing director at Lehman Brothers.
“During his tenure as chief financial officer, Frank brought a level of financial sophistication and discipline that helped steer us through the difficult operating environment of the last few years,” said Parker S. Kennedy, chairman and chief executive officer of First American. “As chief executive officer of the Information Solutions Group, he and his team helped position the company to prosper going forward. We thank Frank for his significant contributions to First American.”
The company has initiated a search process to select a new chief executive, a position for which First American said Nallathambi is a candidate.
In this role as president and COO, Nallathambi will assume responsibility for the group’s strategic positioning and operating activities, including preparation for the scheduled separation of the Information Solutions Group and the Financial Services Group into two separate companies, which is expected to be completed on April 1, 2010.
Nallathambi, 48, previously served as president and CEO of First Advantage Corp., which was a majority-owned subsidiary of First American and a segment within the Information Solutions Group. First American acquired minority interest of the company in November through a buy-in of all issued and outstanding common stock.
Nallathambi will continue to oversee the integration of First Advantage Corp. with the Information Solutions Group. Beginning his career with First American in 1995, Nallathambi has served First Advantage since 2005.
“We believe Anand’s management and experience leading data and analytics businesses in the public markets, and his extensive knowledge of our information solutions businesses, will serve the Information Solutions Group well,” Kennedy said.