First American Hires Execs, Buying Rest of Subsidiary

First American Corp. continues to shore up plans to separate its title insurance business and information services unit with the appointment of executives and plans to absorb all of another subsidiary.

The Santa Ana-based company named Anand K. Nallathambi chief executive and Buddy Piszel chief financial officer of its information solutions group, which provides real estate and other data to businesses.

Piszel formerly was chief financial officer for First American's financial services group, which now is searching for a replacement.

Nallathambi has been the interim chief executive since December. His appointment as permanent head was expected.

He previously was chief executive and president of the First Advantage Corp., a onetime public company that was majority-owned by First American.

First American bought the remaining 26% of the company it didn’t own in November for about $218 million in stock.

It is making a similar move with subsidiary First American CoreLogic. First American intends to buy the remaining 18% of the company and roll it into the information solutions group.

First American is looking to finish a spinoff of its title business by June 1. The information solutions group would stay with the current parent company.

Shares of the company closed up nearly 6% on Tuesday to a market value of nearly $3.8 billion, with investors likely seeing the moves as signs that First American's long delayed spinoff is on track.