Trey Loughran: Equifax President Who Sold EFX Stock on 8/1
Joseph M. Loughran III is Equifax President of U.S. Information Solutions. He is a magna cum laude graduate of Harvard Law School with his bachelor’s degree obtained from the University of North Carolina at Chapel Hill.
More known to friends and colleagues by his nickname Trey, Loughran has been President of U.S. Information Solutions at Equifax Inc. since July 1, 2017. He had served as the Chief Marketing Officer from March 31, 2015 to July 1, 2017, and had served as its President of North America Personal Solutions since January 4, 2010. He served as Senior Vice President of Corporate Development at Equifax Inc. from April 2006 to December 2009 and its Senior Vice President of Mergers and Acquisitions since March 2006.
Here is Trey Loughran on Fox News in 2011 giving advice on what to do if ever your personal data gets into the hands of hackers.
One of the three Equifax executives who allegedly “dumped” stock just a few days after EFX had internally discovered the massive data breach, Trey Loughran joined Equifax after a career with BellSouth Corp., where he held a number of positions, including Managing Director of its Corporate Strategy and Planning department. During his five-year tenure at BellSouth, he served as Executive Director of Marketing in BellSouth’s Interconnection Services unit. He served as Vice President of Corporate Development at GlobalFoodExchange.com Before joining BellSouth, he helped launch Global Food Exchange. He served as Chief Financial Officer, Head of Corporate Development and Vice President of Corporate Development for BellSouth, managed its financial performance and negotiated partnerships and alliances. His experience also includes nearly four years as a consultant with McKinsey & Company. Prior to McKinsey, he served as an attorney with King & Spalding in Atlanta and an investment banking analyst with Lazard Freres & Co. in New York.
Loughran disposed of about $700,000 worth of EFX stock on August 1, 2017. The hackers’ intrusion, which surreptitiously began in May, was acknowledged within the company on July 29. An Equifax spokesperson has denied that the executives knew that the data breach had happened when they disposed of their stock. According to Securities and Exchange Commission filings, however, none of the sales was a pre-scheduled transaction, meaning each person had to manually arrange for the transaction, making the timing of stock sales from three high-ranking executives over two days (one of the two execs sold a day later) quite a coincidence.
July 29 was a Saturday. August 1 was a Tuesday.
His username on Twitter is @3loughran — the account has ostensibly been inactive since November 2015, when he last tweeted @KnightFlix, a student group at Pace Academy in Atlanta.
According to filings with the SEC, three Equifax executives completed stock sales of close to a total of $2 million on August 1 and 2.
Equifax Chief Financial Officer John Gamble sold shares worth nearly $950,000 on August 1.
Joseph Loughran, Equifax’s president for U.S. information solutions, sold shares worth about $685,000 on August 1 as well.
Rodolfo Ploder, president of workforce solutions, sold stock for just more than $250,000 on August 2.