HOUSTON (Oct. 18, 2005) - Stewart Title of California announced that Brian Hurley will become its president effective Jan. 1, 2006.
Hurley succeeds Allan Wasserman, who will continue in his positions as group president of Stewart Title Co. and regional manager for Stewart Title Guaranty Co., encompassing the states of California, Arizona and Hawaii, and the territories of Guam and Saipan. Wasserman also will continue to oversee the Pacific Northwest and Rocky Mountain states for Stewart Title Co. and for Stewart Title Guaranty Co., which is the chief Stewart underwriter.
Stewart Title of California, Stewart Title Co. and Stewart Title Guaranty Co. are wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC).
Hurley was a founder and is currently president and chief executive officer of InterCity Capital Corp. and InterCity Escrow Services, two Stewart companies specializing in timeshare escrow, title, deed-in-lieu, foreclosure, portfolio management and development consulting services. Under Hurley's leadership, the companies have closed more than 80,000 timeshare escrows and serviced more than $100 million in timeshare receivables since 1983.
"California tops the nation in the number of home sales in a single state, and is a crucial market for Stewart Title," said Wasserman. "Brian's strength of experience as an entrepreneur and owner of his own company - and his commitment to Stewart and its success - make a potent combination for great leadership. This move will take Stewart to the next level in serving our customers and gaining market share in California."
Working from Stewart Title of California's San Diego headquarters, Hurley will be responsible for the company's day-to-day operations, technology implementation, marketing and overall strategy. There are nearly 100 Stewart offices and branches across the state.
"The InterCity companies have an excellent infrastructure, and I will continue to provide ongoing guidance and supervision both before and after this organizational change," said Hurley. "I will remain in a consultative role for InterCity and its customers, and I am confident InterCity will maintain its position as Stewart's premier service provider in the dynamic vacation ownership industry."
Hurley graduated Phi Beta Kappa, summa cum laude with a bachelor's degree in economics from the University of California at Berkeley and holds a master's in business administration from its prestigious Haas School of Business. He also is a licensed California real estate broker and a qualifying California escrow manager.
Stewart Information Services Corp. is a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 8,000 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com.