The First American Financial Corporation names DeRoy and Klemens executive vice presidents


April 15, 1996, SANTA ANA, CALIFORNIA

Two vice presidents of The First American Financial Corporation (NYSE: FAF) were promoted to executive vice president. Craig I. DeRoy, general counsel, and Thomas A. Klemens, chief financial officer, were each named to the newly created position. This move recognizes their expanding involvement in the overall operations of the holding company.

DeRoy began consulting with the company on regulatory issues in 1992. He was named vice president-general counsel, a new position, for First American Financial and its primary subsidiary, First American Title Insurance Company, in 1993. He has 16 years of legal and management experience. Previously he served as executive vice president and chief operating officer of First Environmental Review Insurance Company. He is a graduate of the University of Southern California and Loyola University School of Law. He also holds a LL.M. in taxation from the University of San Diego School of Law.

Klemens joined First American Title in 1985 as vice president-controller. He was appointed principal accounting officer of First American Financial and First American Title in 1992 and vice president-chief financial officer in 1993. His previous work experience included several years in public accounting with Price Waterhouse and positions as chief financial officer for various real estate-related companies. He is a certified public accountant and a graduate of California Polytechnic State University at San Luis Obispo.

The First American Financial Corporation, based in Santa Ana, California, is a leading provider of real estate-related financial services, including title insurance, tax monitoring, home warranty, credit reporting, flood certification and property information services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California. The company offers its title services through a network of more than 300 offices and 4,000 agents throughout the United States, and provides title services abroad in the Bahama Islands, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom.

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