The First American Corporation Names Stephen C. Roney to Head New Residential Real Estate Group
— Industry Veteran To Guide Service and Technology Offering to Benefit Real Estate Brokers and Their Agents —
February 12, 2003, SANTA ANA, Calif.
The First American Corporation (NYSE: FAF), the nation’s leading diversified provider of business information and related products and services, today announced that it has launched a new business unit, First American Residential Real Estate Group, Inc., and named Stephen C. Roney as its president and chief executive officer. The new company will provide service, technology, outsourcing and product solutions to companies serving the real estate and relocation markets.
“We recognize the growing importance of providing integrated solutions to our many real estate clients,” said Parker S. Kennedy, president of The First American Corporation. “Steve’s experience and reputation in the industry will assure that First American continues to lead this market and shape the technology platforms we have designed and built specifically to meet the needs of real estate brokers and their agents.”
Roney began his career in 1973 with Transamerica Corporation in its corporate relocation subsidiary, where he gained extensive industry experience in operations, sales and management. In 1985, he accepted a position as executive vice president with Coldwell Banker Relocation Services, Inc., and was named president and chief executive officer in 1989. In that capacity, Roney worked closely with sister companies in the mortgage, real estate brokerage, title, escrow and insurance industries, and was elected to the board of directors of Coldwell Banker Real Estate Group in 1990. In 1993, Roney was one of five senior executives at the company partnering with San Francisco-based Fremont Group in the acquisition of Coldwell Banker from Sears, Roebuck and Company. In 1997, following Coldwell Banker’s acquisition by what is now Cendant Corporation, Roney shifted to an advisory capacity and began providing executive consulting services to the company.
An acknowledged industry leader, Roney has been widely quoted in The Wall Street Journal, Business Week, Fortune and Forbes. During his tenure at Coldwell Banker, his firm was the recipient of numerous quality awards and was featured in the business best seller, “Best Practices: Building Your Business with Customer-Focused Solutions.”
Roney is a graduate of the Haas School of Business at the University of California, Berkeley. He served six years on the Dean’s Advisory Board at the University of California, Irvine’s Graduate School of Management where he was also a guest lecturer. Roney currently lives in Newport Beach, Calif. He and his wife of 30 years, Karen, are parents of three sons.
The First American Corporation is a Fortune 500 company that traces its history to 1889. As the nation’s leading diversified provider of business information, the company supplies businesses and consumers with the information resources that affect the major economic events of people’s lives, such as getting a job; renting an apartment; buying a car, house, boat or airplane; securing a mortgage; opening or buying a business; and planning for retirement. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within seven primary business segments including: Title Insurance and Services, Specialty Insurance, Trust and Other Services, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $4.70 billion in 2002, First American has approximately 25,000 employees in more than 1,300 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.