First American Names CFO, Appoints New Board Member

April 2, 2013

First American Financial Corp. announced that Mark Seaton has been named chief financial officer, while Mark C. Oman has been appointed to the company’s board of directors.

Seaton, who began his career with First American in 2006 and until his appointment served as senior vice president of finance, will replace current executive vice president and chief financial officer Max Valdes, who is retiring after 25 years with the company. Valdes will remain with the company until March 2014 to assist with the transition.

During his tenure with First American, Seaton’s roles have included management of the company’s financial planning, treasury, investments and investor relations activities. In addition, he has been a driving influence on the company’s strategic planning and margin improvement initiatives.

"Mark’s proven financial management and strategic planning skills make him an ideal choice to fill the chief financial officer role," said Dennis Gilmore, chief executive officer of First American Financial. "These skills, together with the depth of his knowledge about our company and our industry, have earned him the confidence of our employees, our board of directors and our investors."

Prior to joining First American, Seaton worked in private equity and in the investment banking industry. He holds a bachelor’s degree in economics from Stanford University and a Master of Business Administration degree from The Tuck School of Business at Dartmouth College.

Valdes joined First American in 1988 and filled a variety of financial management roles prior to being named CFO of First American Financial Corporation in 2010. "Max’s contribution to our company over the last 25 years will have a lasting impact," Gilmore noted. "As we streamlined our business and positioned it for growth over the last several years, his counsel and leadership proved invaluable."

Meanwhile, Oman retired from Wells Fargo & Company in 2011, after serving that firm for more than 30 years. He held a variety of management positions at Wells Fargo, most recently senior executive vice president and head of Wells Fargo’s Home and Consumer Finance Group. During his tenure, Wells Fargo grew to be the largest originator of home mortgages in the United States and the second largest mortgage servicer.

“Our ability to execute on our strategy to grow our core businesses and improve our customers’ experience has been greatly enhanced by the addition of Mark to our board,” said Parker S. Kennedy, chairman of First American Financial. “Mark brings skills that are critical in our competitive and changing environment: a deep insight into the needs of our customers, extensive experience in the mortgage industry and a demonstrated history of leadership.”

Oman serves on the boards of the University of Northern Iowa Foundation and the Greater Des Moines Community Foundation. He is a member of the Iowa Business Hall of Fame and serves on various other professional and community boards, panels and committees. Oman holds a bachelor's degree from the University of Northern Iowa, Cedar Falls.

Contact ALTA at 202-296-3671 or [email protected].