Magazine article American Banker

Unisys Names Exec to Head Information Services Division

Magazine article American Banker

Unisys Names Exec to Head Information Services Division

Article excerpt

Unisys Corp. has tapped Lawrence C. Russell, a management consultant and former senior executive of First Chicago Corp., to head a business unit dedicated to consulting, systems integration, and outsourcing services.

Mr. Russell, who assumed the title of president of Unisys' information services division last week, now heads a business that's under much pressure to improve profitability.

Revenue in information services has grown at more than 20% for three years. However, Unisys said it has had trouble controlling expenses in the rapid buildup.

In early October the company said it would allocate dedicated sales and marketing forces to three business units, including information services a move that increases the authority and autonomy of the businesses, according to J. Peter Hynes, a Unisys spokesman.

The new structure also is designed to allow the unit to sell to a larger market using both Unisys and non-Unisys offerings.

"We are at a transitional point where we must address the challenges of rapid growth and move to a new level of performance," said James A. Unruh, Unisys chairman and chief executive.

"Our goals in 1996 for Information Services are to continue strong revenue growth, expand our customer base, and improve operating margins," he said. "We are confident in Larry's proven ability to achieve such goals."

Before joining Unisys, Mr. Russell was a banking consultant at First Manhattan Consulting Group in New York, where he specialized in building and interpreting sophisticated data bases for retail banking. …

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