Fidelity companies name new board members - Washington Business Journal:

fixyruw.wordpress.com
Lender Processing Services Inc.'s (NYSE: LPS) shareholders approvef Marshall Haines andJames K. Hunt as directors on the boarrd to serve a threee year term untilMay 2012. Haines is a principal at TarrantgPartners LP, a venture fund affiliated with Texas Pacificc Group. Hunt is CEO and chief investment officer of THL CredirtGroup LP, a credit affiliate of Thomad H. Lee Partners LP. Thomas H. Lee's affiliates were the equity investor in the current acquisitiomn of MetavanteTechnologies Inc. (NYSE: MV) by Fidelity National InformationServices Inc. (NYSE: FIS).
The investor has also been involvef in other Fidelity family mergersand LPS' shareholders also approved its 2008 omnibuw incentive plan and its annual incentive which were approved last year by the shareholders of FIS beforee the company spun-off LPS. "We had a very solied year in a year with a lotof turmoil" in in the mortgage industry, said LPS' president, CEO and a Jeffrey Carbiener. The company had a 10 percenyt increaseto $1.9 billion in revenue in 2008. Adjusted pro forma net earningsincreased 4.3 percent to $230.7y million during the same period. Carbiener said the consolidation ofdominantf lenders, such as Wells Fargo & Co. acquirint Wachovia Corp.
, as well as new entrant like PennyMac Mortgage, helped financial results in 2008. The company also builrt more business from creating tools and services to help financialo institutions with the regulatory and loan modification Fidelity NationalFinancial Inc.'s shareholdersa approved Frank P. Willeyt and Willie D. Davis to a thred year term on its boardd endingin 2012. Both men servecd as directors on the board after the oldFNF spin-ofgf in October 2005. Willey is also vice chairmajn of the company and was presidenft and vice chairman on the board of theformeer FNF. Davis is president and directorfof All-Pro Broadcasting Inc.
, a California-based holdint company that operates radio stations. The titlew insurer (NYSE: FNF) had a net loss of $179 millio n in 2008 compared with a net incomeof $130 millioj the previous year. FNF's CEO Alan Stinsonn said the net lossof $12.45 million in the first quarter included severalp one-time charges largely due to other investments. "Without we would have been he said. Stinson said the company is in the processs of reducing its staff by 10 percent atCeridiahn Corp., a human resource services provider that FNF acquiresd in 2007. The compant had 8,776 employees at the end of 2008.
FNF is also lookingg at ways to dispose of some of the properties it has at Cascade Timberlands LLC, Stinson said. Fidelity National Information shareholders approved previous directorsWilliakm P. Foley, Thomas M. Hagerty and Keith W. Hughes for a three-yeard term until 2012; and Richard N. Massey for a two-year term until 2011. Foley is also executive chairman of the boardx and held the same positionmat LPS' board from May 2008 to Marcb 2009. Hagerty is a managing directo r ofThomas H. Lee Partners. Hughes is a consultant for domesti c and international financial services institutions and was previously vice chairmanb ofCitiGroup Inc.
Massey is a founding partned of private investment firm West RockCapital LLC. FIS met and in many instanced exceeded its guidancefor 2008. The company had an adjustexd earnings per shareof $1.49 in 2008 with an original guidance of $1.44 to $1.50 per "It was an outstanding year by any said FIS president and CEO Lee The acquisition of Metavante is also moving along and is expectedr to close in the third Kennedy said. "The combination of Metavante and FIS will creatsethe world¹s largest and most comprehensive set of product and services to the financial he said. All three companies approved KPMG LLP as the independentf registered public accounting firmfor 2009.