First American Names Execs for Spin-Off Company
First American Corporation (FAF) today appointed a CEO and chief financial officer for its Information Solutions Group subsidiary, which it is spinning off into an independent and publicly-traded company. Anand Nallathambi, who has served as president and chief operating officer of the group since December 2009, will assume the CEO position of the new firm. Nallathambi, 48, began his career at First American in 1995. He previously served as CEO and president of First Advantage Corporation, which, until November 2009, was a majority-owned public subsidiary of First American and a business segment within the Information Solutions Group. Buddy Piszel will serve as CFO of the Information Solutions Group. He joined First American as executive vice president and CFO in January 2009. Previously, he was executive VP and CFO at Freddie Mac (FRE). Prior to that, he spent more than a decade at Prudential Financial (PRU), playing a leading role in transforming the firm from a private entity to a public, SEC-registered company. “I am pleased to announce the completion of our leadership team for the Information Solutions Group—an important milestone as we continue our progress toward the targeted June 1, 2010, spin-off,” said First American’s chairman and CEO Parker Kennedy. “The depth of their combined experience as public-company executives will ensure the successful debut of this exciting, new company.” First announced in 2008, First American has since established two new business lines within its information and outsourcing segment: a valuations and property solutions line, and an outsourcing technology solutions line. Write to Austin Kilgore. The author held no relevant investments.