SPS (Formerly Fairbanks) Names CEO

Select Portfolio Servicing Inc., Salt Lake City, has promoted its current president Matt Hollingsworth to be chief executive, replacing James Ozanne, who will remain chairman of the subprime servicing company formerly known as Fairbanks Capital Corp.Mr. Ozanne took over the management of Fairbanks in 2003 to clean up the company in the wake of investigations regarding its servicing practices. Mr. Hollingsworth joined Fairbanks in late 2002. He was previously in charge of U.S. branch operations for Associates First Capital Corp., a subprime lender that was acquired by Citigroup in 2000. Separately, Financial Security Assurance Inc. announced that Mr. Ozanne is rejoining its board of directors. FSA has a minority investment in SPS. Fairbanks changed its name to Select Portfolio Servicing on July 1.