CINCINNATI — Tom Cole has been named chairman of Federated Department Stores’ financial, administrative and credit services unit, called FACS. He continues as chairman of Federated logistics and operations and Federated’s systems group, and reports to Terry Lundgren, president and chief operating officer.
The move is effective Sept. 1, when Amy Hanson, president of FACS, and the top person on-site at FACS headquarters in suburban Cincinnati, will become responsible for all FACS operations except financial services. She reports to Cole, who is based at Federated offices in New York.
James J. Amann, who was chairman of FACS since its inception in 1989, retains responsibility for FACS financial services and continues as executive vice president of strategic initiatives, as well as overseeing Federated Direct, which encompasses e-commerce and direct-mail operations. His focus on strategic initiatives includes merchandise-systems development, privacy, customer loyalty and service programs, technology investments and direct-to-consumer business options. He reports to James Zimmerman, Federated’s chairman and chief executive officer, and Lundgren. Amann, 65, began his career at Federated in 1964 as a programmer analyst.
Cole, 54, began his career at Federated in 1980 as vice president and controller of I. Magnin and rose to president and chief operating officer of Federated Merchandising before shifting to logistics and operations. Hanson, 43, joined FACS in 1991 as group manager for planning and receivables and held several positions before becoming president of FACS this year.
FACS services all proprietary credit-card accounts on behalf of FDS National Bank for Federated divisions and is responsible for financial services, such as insurance, banking and investments, club programs and human resources services.