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Ticor Names Wood for Top Financial Post

October 16, 1985|NANCY RIVERA

Ticor announced Tuesday that Leonard T. Wood has been elected executive vice president and chief financial officer of the Los Angeles-based company.

Wood joined Ticor in April, 1985, as senior vice president and controller. He replaces Robert Cohen as chief financial officer.

Cohen remains executive vice president of Ticor Mortgage Insurance, which faces a loss of $166 million in connection with the default of a Virginia-based real estate syndicate.

Cohen was one of three Ticor Mortgage executives who were removed from its board last week in a restructuring that ousted all of the outside directors and cut the 15-member board to five people. Wood was one of two executives from the parent firm who were added to Ticor Mortgage's board.

A Ticor spokeswoman said she didn't know if the latest job change is related to the problems at Ticor Mortgage. President Winston V. Morrow was unavailable for comment Tuesday.

Before joining Ticor, Wood was vice president and controller of Southern Pacific, Ticor's former parent.

Ticor is a leading supplier of financial support services to the real estate industry. Ticor's main subsidiary is Ticor Title Insurance, the nation's largest title insurance group.

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