and former senior executive of First Chicago Corp., to head a business unit dedicated to consulting, systems integration, and outsourcing services. Mr. Russell, who assumed the title of president of Unisys' information services division last week, now heads a business that's under much pressure to improve profitability. Revenue in information services has grown at more than 20% for three years. However, Unisys said it has had trouble controlling expenses in the rapid buildup. In early October the company said it would allocate dedicated sales and marketing forces to three business units, including information services - a move that increases the authority and autonomy of the businesses, according to J. Peter Hynes, a Unisys spokesman. The new structure also is designed to allow the unit to sell to a larger market using both Unisys and non-Unisys offerings. "We are at a transitional point where we must address the challenges of rapid growth and move to a new level of performance," said James A. Unruh, Unisys chairman and chief executive. "Our goals in 1996 for Information Services are to continue strong revenue growth, expand our customer base, and improve operating margins," he said. "We are confident in Larry's proven ability to achieve such goals." Before joining Unisys, Mr. Russell was a banking consultant at First Manhattan Consulting Group in New York, where he specialized in building and interpreting sophisticated data bases for retail banking. Prior to that, he was a partner at the Boston Consulting Group in the financial industry practice. From 1981 to 1987 Mr. Russell was an executive vice president at First National Bank of Chicago, where he helped transform the information service group from a small unprofitable set of businesses to a profitable, major line of business. He was instrumental in installing one of the banking industry's first on-line, real-time international banking system. In the 1970s, Mr. Russell was a principal at McKinsey & Co. where he managed the team that defined the Universal Product Code for the grocery store industry. "Larry combines strong conceptualization skills useful in planning and marketing with a highly effective line management capability," said James McCormick, president of First Manhattan Consulting. "He's strongly steeped in shareholder value-based management," he added. Mr. Russell has a bachelor's degree in mechanical engineering from Lehigh University, an MBA from Case Western Reserve University, and a JD from Cleveland Marshall Law School. Unisys is heavily dependent on revenue from banks and other financial services companies. The financial services industry is one of the two top contributors to Unisys' bottom line. Unisys had been looking since late spring for a successor to Victor Millar, who headed the information services division from late 1992 until February, when he left to join AT&T.
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