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Arizona Title Insurance Firm to Move Headquarters to Irvine

October 10, 1987|MARIA L. La GANGA

Fidelity National Financial, an Arizona-based title insurance company with branches in 28 states, said Friday that it will move its headquarters from Scottsdale to Irvine.

The move will create 60 new jobs in the county, a Fidelity spokesman said.

Fidelity also plans to relocate 80 employees from Scottsdale, according to the spokesman.

The firm is relocating its corporate offices to Orange County--in a move expected to be completed Thursday--in part because its major subsidiary, Fidelity National Title Insurance, has branches in just two Arizona counties, contrasted with branches in 12 California counties.

Additionally, company officials said the firm recently agreed to buy San Francisco-based Western Title Insurance, which will give Fidelity offices in 51 of California's 58 counties. An Irvine base will ease the task of merging the companies' management staffs, Fidelity officials said.

Fidelity National Financial reported gross revenues of $61.7 million for the 1986 fiscal year ended Oct. 31. The 6-year-old company expects its fiscal 1987 revenues to reach $95 million.

The company's new headquarters will be in the Koll Center Irvine/North, where Fidelity has signed a 10-year, $4.4-million lease with Columbia savings & Loan Assn. for 21,000 square feet of office space.

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