Fidelity National Completes FinancialReengineering

Register now

JACKSONVILLE, Fla. - (02/09/06) – Fidelity National, the titleinsurance giant that transformed itself into a leading back-officeoutsourcer for credit unions and banks just two years ago,completed yet another transformation, the company said. Withseparate spin-offs complete for the company’s title andoutsourcing divisions into stand-alone companies, Fidelity Nationalhas made itself over to a holding company with a majority stake ina title company, called Fidelity National Title Group, and anoutsourcer, since merged with cards processor Certegy Inc., and nowcalled Fidelity National Information Services. Wednesday FidelityNational reported the latest round of financial engineering pushedfourth quarter earnings down 34% to $115.2 million, or $1.20 ashare, due to a $100 million taxable charge related to thespin-off.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER