Monday, Stewart Information Services Corp. (STC), a real estate information, title insurance and transaction management company, announced a new customer oriented organizational structure of its wholly-owned subsidiaries to reduce cost and drive efficiencies.
The company said under the reorganized Stewart leadership, Mike Skalka will remain President of Stewart Title Guaranty Company, or STG, and will overlook all of its underwriting companies, and continue to integrate sales and underwriting efforts on a global basis.
Glenn Clements will become Stewart Title Company, or STC, Group President, Eastern States and will lead direct operations in the eastern U.S while Bob Oakland will be the STC Group President, Western States and will lead direct operations in the western United States, the company said.
Further, George Houghton will become STG Executive Vice President, Agency Services Group and will be responsible for all Stewart Agency Services Managers serving independent agencies and their support services.
The company also said that Pat Vaden will remain STC Group President, Real Estate Information and Jason Nadeau will become STC Group President, Lender Services and will lead all lender offerings.
Rand Zimmerman will lead Stewart's Regional Production Center initiative to centralize title and escrow production across the U.S.
Stewart said it would focus the senior leadership of the company around customer segments and delivery channels. In addition, the company said it has also consolidated its back office functions to reduce costs and drive efficiencies.
STC closed Friday's regular trading session at $14.44.
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