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William P. Foley, II, who remains chairman and chief executive officer of Fidelity said, "I couldn't be happier to announce these well-deserved promotions. Frank and Pat are long-time key executives in the Fidelity operation who have played an indispensable role in bringing this organization to its new position as the unquestioned leader in its industry. Together they will continue to foster the growth of our company, bringing ever-increasing value to our shareholders."
Willey maintains his position on the FNF board of directors and continues to be responsible for Fidelity's strategic mergers/acquisitions activities and investor relations. He now takes on oversight of Chicago Title's extensive national agency network as well as Fidelity's Corporate Communications department. In addition to being named president, Stone's role as COO of Fidelity's title insurance and real estate services operations has been expanded to include the brands Fidelity acquired from Chicago Title Corporation: Chicago Title Insurance Co., Ticor Title Insurance Co. and Security Union Title Insurance Co.
Headquartered in Irvine, California, Fidelity National Financial Inc. is the nation's leading title insurance and diversified real estate-related services business. The company's title insurance underwriters -- Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title -- together issue approximately 30 percent of all title insurance policies nationally. The company provides title insurance in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Canada. In addition, Fidelity, through its principal subsidiaries, performs other real estate-related services such as escrow, appraisal services, collection and trust activities, real estate information and technology services, trustee's sale guarantees, credit reporting, attorney services, flood certifications, real estate tax services, reconveyances, recording, default services, foreclosure publishing and posting services and exchange intermediary services in connection with real estate transactions.
Certain statements in this press release are forward-looking statements concerning the benefits that Fidelity anticipates as a result of its acquisition of Chicago Title. Because such forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, changes in general economic conditions, either nationally or in the regions in which Fidelity and Chicago Title operate; competitive pressures in the title insurance and other title and real estate-related services industries and legislative or regulatory changes that adversely affect our operations, along with other factors discussed in our filings with the Securities and Exchange Commission.
More information about the company can be found on Fidelity's Web site, located at http://www.fnf.com. Information about Chicago Title's products and services is available at http://www.ctt.com.