Fidelity National Spins Off Lending Unit, Names Executives

Fidelity National Information Services (FIS) plans to spin off its lender processing division in the middle of this year and will name it Lender Processing Services Inc. (LPS).

Jeff Carbiener, currently Executive Vice President and Chief Financial Officer of FIS, will be President and Chief Executive Officer of LPS.

After the spin off, the following LPS executives will report to Carbiener: Dan Scheuble, EVP, Mortgage Processing Services division; Eric Swenson, EVP, Mortgage Information Services division; Fred Parvey, EVP and CIO; and Francis Chan, EVP and CFO. Parag Bhansali recently joined FIS and will serve as SVP, Investor Relations, for LPS.