SAN FRANCISCO, Dec. 10, 2019 /PRNewswire-PRWeb/ -- Banking and finance veteran, John Adam Kanas, has joined States Title Holding, Inc., the real estate settlement service company differentiated by its use of machine intelligence, as an advisor.
States Title plans to leverage Kanas' decades of experience with banking, finance and legislation at institutions with sizable lending arms to home in on and fix the problems of the traditional residential mortgage process.
"Having been intimately connected to both markets, I understand the technological gap between major financial institutions and the residential mortgage ecosystem. Machine learning and intelligence have transformed so many sectors and Max and States Title are taking a fundamentally different approach to a notoriously overcomplicated industry."
– John Adam Kanas, States Title Advisor
Currently a Senior Advisor and Vice Chairman at the Carlyle Group, Kanas spent over 30 years at the helm of his first company, North Fork Bank, which he sold to Capital One for just under $15 billion in 2006.
Two years later, he was tapped by FDIC Chair, Sheila Bair, to assist with the government's response to the 2008 financial crisis. With less than 24 hours' notice, Kanas flew to Florida and organized a group of investors to recapitalize BankUnited, a regional bank on the verge of collapse.
Following the recapitalization, Kanas assumed the role of CEO at BankUnited, and in 2011, took the company public in a $783 million IPO. When he stepped down as CEO in 2017, the bank's assets had more than doubled to over $26 billion.
The announcement of Kanas as a States Title advisor comes just months after Silicon Valley pioneer, Karen Richardson (https://statestitle.com/resource/karen-richardson-joins-states-title-board-of-directors/), and former Treasury Secretary, Larry Summers (https://statestitle.com/resource/states-title-names-former-treasury-secretary-lawrence-h-summers-to-board-of-directors/), joined the company's board of directors. These appointments show industry leaders recognize the need to modernize residential real estate and are proof of the company's resolve to make it happen.
"John has demonstrated an acute sense of timing and remarkable agility in the face of potential macroeconomic issues. He knows the right time to acquire and grow, and when to change his position. The wider performance of the residential real estate market has a big impact on our business. John's experience at the top of the financial sector complements Larry's at the highest levels of government and Karen's at the forefront of major technological progress. Together with our board, their insight will prove invaluable as we navigate this dynamic macroeconomic landscape."
– Max Simkoff, Chief Executive Officer, States Title Holding, Inc.
About States Title Holding, Inc. and States Title
Founded in 2016 in San Francisco, States Title Holding, Inc. has grown rapidly to become one of the top ten largest title and escrow companies in the US. The States Title family of companies – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – is able to impact 90% of all real estate transactions in the US. States Title's first-of-its-kind, patented technology solution utilizes machine intelligence to make residential real estate closings vastly more simple and efficient. Current customers are able to close more loans, faster, and at a lower cost, while maintaining best in class quality and service. To learn more visit http://www.statestitle.com.
SOURCE States Title
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