In Brief: Calif. Subprime Lender Hires Exec from TRW

New Century Financial Corp. has hired Larry E. Moretti from TRW Property Data, for the newly created position of chief information officer.

Mr. Moretti was a senior information systems manager with TRW's space and electronics group. He has also been an independent technology consultant and an information specialist at Transamerica Specialty Financial.

New Century, a subprime lender, said Mr. Moretti would help the company use technology to improve its operating efficiency and expand its Internet originations channel.

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