The Cendant Real Estate Services Division, which is spinning off from Cendant Corp., will operate as a standalone company under the name Realogy Corp., the publicly traded company said today.
The name change will take effect upon the completion of its spin-off from Cendant Corp., anticipated during the second quarter of 2006.
“The name Realogy communicates our rigorous approach to the real estate business,” said Richard A. Smith, chairman and CEO of the Cendant Real Estate Services Division, who will serve as vice chairman and president of Realogy Corp.
Since the Cendant name will ultimately be retired, two subsidiaries of the Real Estate Services Division are also changing their corporate identities in association with the spin-off, the company said.
Cendant Mobility, a major global relocation services company, will become known as Cartus. Cartus has more than 1,300 active clients worldwide, including more than 60 percent of the Fortune 50 and numerous government agencies and affinity organizations.
Cendant Settlement Services Group, a national leader in title and settlement services, will become known as Title Resource Group (TRG). TRG is comprised of 21 title and settlement services companies with 500 offices in 33 states across the United States.
“Title Resource Group is a name that defines our national network of title and settlement services companies,” said Cendant Settlement Services Group President and CEO Don Casey, who will serve as TRG’s president and CEO. “TRG comprises many companies operating in a host of local markets, all united under one vision.”
No other name changes are planned within the Real Estate Services Division.
NRT Inc., the real estate franchise group, and its leading brands — Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby’s International Realty — all will keep their existing names.
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