PHH merges domestic, foreign relocation units

May 05, 1992

PHH Corp. said yesterday that it has consolidated its global relocation and real estate management operations under Stephen A. Fragapane, a senior vice president at PHH and president of its relocation subsidiary.

The Hunt Valley-based business-services company said the move was designed to provide comprehensive business services worldwide and to smooth international moves for business executives and their families.

"Many of our large transnational clients, such as Digital and Exxon in the United States; Monsanto Canada Inc., Canadian National Railway and the Bank of Nova Scotia in Canada; and Rolls-Royce, British Petroleum and IBM in Europe need a relocation service provider with capabilities that cross geographic boundaries," PHH Chairman Robert D. Kunisch said in a statement.

"Our goal is to offer products which reduce international transferees' tension and make their actual moves seamless from departure point to destination."

Previously, the foreign and domestic relocation operations were separate. If a client moved from the United States abroad or vice versa, two PHH divisions handled the case. Now, one division will oversee all relocations.

In his new role, Mr. Fragapane, who will move from Connecticut to Baltimore, will assume responsibility for PHH Homequity Canada and the Relocation and Property Services operations of PHH Europe. He will continue to supervise domestic units, including PHH Homequity, PHH Fantus, PHH Network Services, PHH Asset Management and PHH Destination Services.

PHH has offices in four countries and an affiliated network in more than two dozen others.

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