Capital Title Group Adds Industry Veteran Burton J. Rain as President of New Subsidiary
|August 22, 2005|
SCOTTSDALE, Ariz., (BUSINESS WIRE) -- Capital Title Group Inc. (Nasdaq: CTGI), a national provider of title, appraisal and other transaction services to the real estate and mortgage lending industries, has selected Burton J. Rain to serve as president of a newly formed subsidiary headquartered in Florida that will operate under the brand name New Century Title Co. Rain's extensive title industry career includes executive management responsibility for operations of multistate branch office networks, and expansion and development of new territories. His successful execution of developing new markets will be invaluable to Capital Title as it implements its plan to expand its network of offices into the east and southeastern United States. His territory will include the Texas market, which is ranked third, behind California and Florida, with respect to annual title premiums written.
Rain most recently served as executive vice president of Fidelity National Title Insurance Co., responsible for agency operations for all Fidelity National companies in 13 western states. For five years he had served as national agency director for all Fidelity National companies where his responsibilities included national agency sales and operations, and business development for agency acquisitions and financing. Prior to joining Fidelity he served in various management capacities and was vice president and national agency director for SAFECO Title Insurance Co. when SAFECO was acquired by Chicago Title and Trust in 1987. In the early years of his career in the title industry, Rain held management positions in charge of multistate agency operations based out of Illinois, Michigan and Texas. He holds a Bachelor of Science degree in business administration from Menlo College in Menlo Park, Calif. Rain has been actively involved as a member of the board of several of Fidelity National Financial's subsidiary companies.
"It is with great enthusiasm that we welcome Burt as a member of our senior management team. Burt's wide-ranging experience and the strong network of relationships he has developed within the title industry will be helpful to Capital Title as we move into new markets starting with Florida and spreading throughout the east and southeastern United States. Texas is also a primary expansion market that Burt will oversee," said Donald R. Head, chairman, president and chief executive officer of Capital Title Group Inc. "Burt will be instrumental in identifying target acquisitions and in charge of integration and operations of newly acquired companies within his markets. We are pleased to add Burt to the senior management team that will lead this company to its next level of performance."
Commenting on his appointment Rain stated, "I look forward to joining a growth-oriented company that is energetically moving into new territories. Contributing to this effort I will use my many years of experience within the industry to successfully implement the expansion of Capital Title's national footprint."
Source: Capital Title Group Inc.