Cendant Creates DM Division, Taps Monaco

Share this content:
Cendant Corp., New York, is gearing up to combine its membership club operations with its insurance/wholesale businesses to create a direct marketing division, and Michael P. Monaco, a Cendant vice chairman, is slated to become its chairman/CEO.


"There are efficiencies to be gained because there will be one management team instead of two," said Elliot Bloom, senior vice president of corporate communications at Cendant.


"Some management at the top is reduced, and I think the two groups have some similarities," said Michael Millman, an equity analyst at Solomon Smith Barney, New York. "I think the company would like to do more cross-selling between the two."


Cendant markets its individual membership clubs directly to consumers and markets its insurance products directly to bank customers. Cendant's FISI Madison Financial Corp. and Benefit Consultants Inc., part of the insurance/wholesale division, offer outsourced membership clubs and other marketing programs to financial institutions. The banks place their own brands on these programs and market them to their own customers.


Under the new alignment, Kenneth L. Keith, who is president/CEO at Madison FISI and chairman at Benefit Consultants Inc. and Long Term Preferred Care, will report to Monaco, as will Mark Maybrey, managing director of Cendant International Membership Services.


The businesses that are being combined in the direct marketing division are part of CUC International, the direct marketing company that merged with HFS Inc. in 1997 to form Cendant Corp.
close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above