BUSINESS WIRE -- Titanium Holdings Inc. announced today that Patrick Carey has joined the company as CEO. Titanium Holdings is the parent company of Titanium Solutions Inc., a leading provider of homeowner contacting and consulting services. Todd Sibley was promoted to chairman of Titanium Holdings. Additionally, the company recently announced that Spencer Erekson, a co-founder of Titanium Solutions, was promoted to president.

Most recently, Carey was executive vice president of Default & Retention Operations for Wells Fargo Home Mortgage, where he was responsible for end-to-end default operations of the company including collections, loss mitigation, bankruptcy, foreclosure, claims, property preservation, default reporting and REO. Carey’s career includes executive positions at UNUM Life Insurance Company of America, First Card Corp. and JPMorgan Chase, formerly Chase Manhattan Bank.

“I look forward to working with the team at Titanium to continue to grow the company and to develop products and services that will assist customers with keeping their homes during this challenging economic cycle,” said Carey. “Titanium has earned a strong reputation with their clients as a provider of loss mitigation solutions and I look forward to working with the team to expand the suite of products and services that are offered, to provide value and scale for existing and future clients.”

C. Bryan Daniels, founding principal of Prairie Capital, an equity partner and director in Titanium, said, “Titanium has experienced significant growth during 2008. We are fortunate to add Patrick, with his extensive experience in mortgage servicing, who will help us continue to scale the company through acquisitions and organic growth.”

Sibley said, “The success of Titanium lies in the expertise and commitment of the management team that we have assembled over the years. We have partnered with the nation’s top servicers and expanded our employee base and Home Retention Consultant network to make contact with hundreds of thousands of homeowners. As the needs of our customers continue to grow, we are responding through key additions and promotions at the company. I am excited to work with this team as we continue to serve our customers and the mortgage industry.”