CHICAGO, Jan. 27 /PRNewswire/ -- Chicago Title and Trust Co. (CT&T)
announced today that Peter Leemputte has been elected executive vice president
and chief administrative officer. In his new position, Leemputte will manage
the company's financial, investment, risk management, audit, treasury and real
estate units.
"Peter will be responsible for directing the financial and administrative
processes necessary for CT&T to compete effectively in the public capital
markets," said John Rau, president and chief executive officer, CT&T. "His
strong financial function and process improvement expertise will be a valuable
addition to our management team."
Alleghany Corp. (NYSE: Y) announced in December 1997 that it intends to
establish the title insurance and real estate-related services businesses
conducted by its wholly owned subsidiary, CT&T, as an independent, publicly
traded company through a spin-off to Alleghany stockholders. The spin-off is
expected to be in the late first quarter or early second quarter 1998. The
asset management business conducted through CT&T's subsidiary, Alleghany Asset
Management, Inc., will not be part of the distribution and will remain with
Alleghany.
After completing his MBA at the University of Chicago, Leemputte spent
five years with Amoco Corp., becoming head of the financial analysis unit in
its Treasury group. He then joined FMC Corp., where he served as both head of
operations analysis and group controller. Leemputte also spent three years as
corporate controller for Armco Inc. He joins CT&T from Mercer Management
Consulting, where his focus was on operational and financial improvement and
where he led the firm's efforts to identify best practices in managing
economic cycles in process industries.
The Chicago Title and Trust Family of Companies is the source of real
estate services, providing title insurance, escrow and closing services, as
well as property valuation, credit information and flood compliance products
through a network of more than 300 offices and approximately 3,700 agents
nationwide. CT&T's title insurance subsidiaries -- including Chicago Title
Insurance Co., Ticor Title Insurance Co. and Security Union Title Insurance
Co. -- issue approximately one in every four title insurance policies in the
United States with annual gross revenues in excess of $1.3 billion. CT&T also
is the parent company of Chicago Title Flood Services Inc. of Arlington,
Texas; Chicago Title Credit Services Inc. of Kingston, N.Y.; and Chicago Title
-- Market Intelligence Inc. of Hopkinton, Mass.
SOURCE Chicago Title and Trust Co.
 back to top
Related links:
http://www.ctt.com
CONTACT:
Melissa Kane, 312-616-8293, or Stephen
Flanagan, 312-223-2959, both of Chicago Title and Trust Co.
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
117465
|
