HOUSTON (Feb. 3, 2003) - Stewart Information Services Corp. (NYSE-STC) has appointed regional chief technology officers (CTOs) in each of its 11 regions to enhance two-way communication and cultivate a collaborative, global environment throughout the organization.
"The most important objective of defining these new roles is to increase the level of communication across the entire Stewart IT organization," said Mike Davis, Stewart's chief information officer (CIO). "From an IT perspective, in a global, enterprise environment like Stewart, collaboration is key in eliminating duplication of efforts, taking advantage of economies of scale and implementing global solutions."
Stewart's recently appointed global CTO, Gary Morris, will work together with regional counterparts to drive Stewart enterprise initiatives to every office and to identify field innovations to implement nationally.
"We've always encouraged an entrepreneurial spirit in our field offices and as a result, many of our technological innovations actually begin in the field," said Stewart Morris Jr., president and co-chief executive officer, Stewart Information Services Corp. "Our regional CTOs will identify opportunities and bring them back to us as potential enterprise solutions that can benefit every office, as well as maintain responsibility for carrying out our national technology solutions within each region."
"This is a great advancement for Stewart in terms of synchronizing our communication channels and technology efforts worldwide, ultimately resulting in faster turn-times, increased productivity and cost containment for the entire organization," Davis said.
Stewart's regional CTOs will act as Information Technology (IT) consultants and coordinators serving agents and affiliates in each Stewart region. By also serving on the newly formed Stewart Technology Leadership Team, they will be able to assist their regions in meeting the national IT goals defined in Stewart's five-year technology plan. The plan was developed to help Stewart reach its business initiatives through technology, focusing on long-term strategies.
"This is a major step toward enhancing and using the technology infrastructure and support model across the entire Stewart organization. It will allow us to more quickly identify each region's specific technology needs and determine how to integrate them into Stewart's overall IT strategies," Gary Morris said. "The regional CTOs will have the authority to coordinate all regional IT issues in their regions, working closely with headquarters."
Local IT staff will continue to focus on localized technology solutions for agents and offices, but with an increased level of accountability and collaboration with the technology leadership in Houston. The regional CTOs were appointed by region managers and will maintain their existing responsibilities and reporting structures.
"These individuals are already the technology leaders within their regions and are true subject-matter experts on the region's technology," Gary Morris said. "With the new structure, our field IT management will have direct input into Stewart's long-term IT strategy. They will also be in better position to both push and pull appropriate initiatives to and from their regions."
Stewart Information Services Corporation is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,400 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records and geographic information systems for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.