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Return to: 2003 News Releases

RICHARD E. SCHWARTZ NAMED EXECUTIVE VICE PRESIDENT OF PARAGON DECISION RESOURCES

RANCHO SANTA MARGARITA, CA - May 14, 2003 -- Richard E. Schwartz (Rick) has joined Paragon Decision Resources, Inc. (www.pdr.com) as the firm's Executive Vice President of Global Business Development & Marketing. Joe Morabito, Paragon's president, made the announcement.

"Rick is one of the most recognized and respected executives in the global relocation industry. Powered with his reputation of revenue increases and his commitment to excellence, he'll play a critical role in the growth of Paragon's global sales," Morabito said. "Rick will be based in our Dallas office and will have overall responsibility for worldwide sales and marketing activities."

"I'm looking forward to working with Joe and the rest of Paragon's management team as we continue to build a world class sales and marketing organization within the global relocation industry," Schwartz said.

Schwartz comes to Paragon with over 20 years industry experience, most recently as president of CitiCapital Commercial Services Group, a subsidiary of New York-based CitiGroup, where he successfully increased revenue by 20 percent prior to his leading the successful efforts to sell the CitiCapital Relocation and CitiCapital Fleet Canada companies (business units of the Commercial Services Group) in 2001.

Earlier, he spent 15 years in a number of senior management positions with Prudential Relocation Company, a division of Newark, NJ-based Prudential Financial. He served as president of Prudential Relocation Company from 1997-1999 and as executive president from 1993 to 1997. During these six years, revenues increased 77 percent from $90 million to $160 million. Schwartz delivered a return on equity that consistently topped 20 percent each year and achieved a client retention rate exceeding 98 percent of annual revenue.

Schwartz received an MBA from the University of New Haven and a Bachelor of Arts degree in history from Arizona State University.

Paragon Decision Resources, Inc. was established in 1987. Worldwide headquarters are in Rancho Santa Margarita, CA, about 40 miles southeast of Los Angeles. Additional U.S. offices are in Connecticut, Illinois, Kansas and Texas; overseas offices are in Hong Kong and London. Paragon provides relocation outsourcing solutions for Fortune 1000 companies and other leading organizations worldwide. Key services include domestic relocation, international relocation and global assignment services.

Return to: 2003 News Releases