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The Warranty Group, Inc. Names Nelson J. Chai as President and Chief Executive Officer

CHICAGO – The Warranty Group, a leading global provider of warranty solutions and underwriting services, announced today that Nelson J. Chai will join the company as its new President and Chief Executive Officer, effective January 4, 2017. Thomas W. Warsop III, President and Chief Executive Officer since August 2012, will leave to pursue other opportunities after overseeing a transition to Mr. Chai.

“The TWG team is one of the best I have worked with throughout my career, and I know the company will continue to be a leader in the warranty, loyalty and business intelligence landscape,” said Mr. Warsop.

“Tom was instrumental in transforming the company from a spun-off division of Aon Corporation to a formidable, stand-alone competitor with industry-leading capabilities in major markets around the world,” explained Eric Leathers, Chairman, Board of Directors, The Warranty Group, Inc. “On behalf of the Board and TPG Capital, I thank Tom for his leadership and service.”

Mr. Chai is former President of CIT Group, Inc., a publicly-traded commercial bank with a market capitalization of over $8 billion and more than $65 billion in assets. He has a track record of success at some of the largest and most successful public companies in the financial services industry, including serving as Chief Financial Officer of Merrill Lynch & Co., NYSE Euronext, the parent company of the New York Stock Exchange, and Archipelago Holdings, the first fully-electronic stock exchange in the US.

“The Warranty Group has been an industry leader for more than fifty years and I am honored to be entrusted to position it for continued growth in the future,” said Mr. Chai. “I look forward to the opportunities ahead and working with the TWG team.”

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The Warranty Group Names New CEO

CHICAGO — The Warranty Group today announced the appointment of Thomas Warsop as CEO, effective Aug. 6. Warsop will also be elected to the company’s board of directors.

Warsop served most recently as group president of distribution and sales at Fiserv Inc., where he was responsible for its depository institution services, maintaining relationships with Fiserv account processing clients, and oversight of its global sales organization.

“Tom brings to The Warranty Group a proven track record of strong global operational expertise and a client-focused passion,” said Robert Le Blanc, chairman of The Warranty Group’s board of directors. “Merging the capabilities of The Warranty Group with Tom’s global leadership experience will deliver increased value to our clients, associates and shareholders.”

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