Title Alliance, Ltd, an ESOP Company, announced today that Joseph Herbst and Suzanne Ricci were named as the newest Board of Director Members for the company. Title Alliance has been diligently working to make conscious changes to their operation in order to continue and sustain growth. In May, Title Alliance announced that they formed an ESOP Company. The addition of the two new board members will propel that growth with outsider perspectives.
Herbst joins Title Alliance with over 30 years of business experience in various financial capacities. He spent twelve years in commercial lending with CoreStates in Philadelphia, which was later acquired by Wachovia Bank in 1998. Since 1995, he has served as CFO at a number of early stage technology companies and has experience in manufacturing, software, financial services, ecommerce, digital media and consumer products companies. He has been an active angel investor since 2004 and currently serves as a director on the boards of DailyWorth.com, Robin Hood Ventures and a consumer products company. Herbst received his BS in Finance from Penn State University.
“I am thrilled to join the Title Alliance board of directors,” Herbst said. “I look forward to working with the talented and experienced Title Alliance team and hope to use my capital formation and strategic planning experience to help expand the number of partnerships and grow the financial results of all venture partners.”
Ricci joins Title Alliance with over 24 years of experience in the banking industry. She has held positions including Controller, Vice President, Chief Information Officer and currently holds the position of Senior Vice President and Chief Technology Officer for Alliance Bank. Ricci leads technology efforts for the bank as well as IT activities including the infrastructure and architecture, business process, network, strategic vendor and partner relationship, outsourcing and computer operations and support. Ricci received her MS in Accounting from Widener University.
“I am excited and privileged to be joining the Title Alliance Board of Directors,” Ricci says. “I look forward to contributing to the continued strength and future growth of this leading Pennsylvania-based joint venture title agency,” she concludes.
The senior management team of Title Alliance consisting of Bill Cotter, Jim Campbell, Bill O’Connell, Lillian ReDavid and Nancy Warner, who recently celebrated their 7th anniversary as owners of the company, spent a significant amount of time discussing the addition of new directors to help grow the company. According to Cotter, best practices suggest that independent directors add tremendous value to a company both by innovation and governance.
“We are very, very pleased Suzanne and Joe accepted our invitation,” says Bill Cotter, Partner of Title Alliance. “I have worked with Joe for over seven years, co-investing with him in many companies, and he has an amazing ability to grow companies.” Cotter concludes, “Suzanne has been a senior manager in a solid, growing bank and is an expert in IT, risk management, security and financial controls. I have been a director at her bank for over twenty years and have witnessed her growth. We look forward to their wisdom and expertise as we continue to grow our business and help our partners."
Jim Campbell, Partner, says, “It has been our goal since 2007 to reintroduce outside board members to Title Alliance to maintain third party objectivity and keep us accountable in achieving our long term goals.” He continues, “We are all very confident that the skills and knowledge that both Joe and Suzanne bring to the table will complement our team and help to keep us forefront in this ever changing industry of ours.”
About Title Alliance:
Title Alliance, Ltd, an ESOP Company, is located in Media, PA and has been creating RESPA compliant title joint ventures since 1983 with lenders, mortgage bankers, realtors, builders and credit unions. For more information or to find out how a Title Alliance's partnership or title management skills could benefit you visit them online or contact Lindsay Smith at 800-220-3901 x 165.
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