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Financial services

First Financial Management Corp. Appoints Senior Officers for Future Growth

Strategic Insights

— 1 min read

First Financial Management Corp. has created an Office of the Chairman, appointing five senior officers to focus on the company's future growth. The newly appointed vice chairmen are M. Tarlton Pittard, Stephen D. Kane, Richard D. Jackson, Robert J. Amman, and Randolph L. M. Hutto. The team will play a key role in developing FFMC's strategic growth worldwide during the next few years. The company plans to continue an aggressive growth plan that will extend its distribution network, further penetrate its markets, and accentuate its broad base of services.

Key Takeaways:

  • Five senior officers have been appointed to focus on First Financial Management Corp.'s future growth, including M. Tarlton Pittard, Stephen D. Kane, Richard D. Jackson, Robert J. Amman, and Randolph L. M. Hutto.
  • The newly appointed team will be located in the Atlanta headquarters office.
  • FFMC is a national leader in information services, offering credit card authorization, check guarantee and verification, health care claims processing, and data imaging services, among others.
  • The company made nine acquisitions in 1994 and increased its revenue 25 percent to $2.2 billion through both acquisitions and internal growth.
  • FFMC's customer base includes 327,000 institutional customers, including merchants, restaurants, hotels, manufacturers, wholesalers, financial institutions, insurance companies, hospitals, physicians, utilities, and governmental agencies.
  • The company's latest acquisition was Western Union, the worldwide money transfer giant, adding a 24,000-agent worldwide network that services 55 million retail customers.
  • FFMC is a worldwide leader in information services, offering a vertically integrated set of data processing, storage, and management products.

Statistics:

  • FFMC's revenue increased 25 percent in 1994 to $2.2 billion.
  • The company has 327,000 institutional customers.
  • Western Union's 24,000-agent worldwide network services 55 million retail customers.
  • FFMC's common stock and senior convertible debentures are traded on the NYSE under the symbol FFM.
  • The company has made nine acquisitions in the past year.

Sources:

  • Business Wire, February 2, 1995.

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