Dieter Wemmer will be new CFO at Zurich Financial Services
Zurich Financial Services Group (Zurich) has announced important personnel changes affecting its Group Executive Committee. The role changes follow the planned retirement of Chief Operating Officer Peter Eckert on February 28, 2007.
Patrick O’Sullivan (57), who currently serves as Group Finance Director, will assume the new positions of Vice Chairman of the Group Management Board and Chief Growth Officer, while Dieter Wemmer (49), who currently is the CEO of Europe General Insurance, will become the Group’s Chief Financial Officer. Both announcements are effective March 1, 2007.
Succeeding Dieter Wemmer will be Annette Court (44), who currently leads Royal Bank of Scotland (RBS) Insurance. She will also become a member of Zurich’s Group Executive Committee.
In his new role as CFO, Mr. Wemmer will chair the Group Finance Committee and oversee all aspects of the finance function, including capital management, mergers and acquisitions, actuarial, accounting and Group Treasury. He will also be responsible for overseeing the delivery of the Group’s business operating profit targets and driving the Group’s operational transformation initiatives. Mr. Wemmer originally joined Zurich in 1986 and has held a variety of actuarial, finance and operational responsibilities, both within Germany and at the Group level. As CEO of Europe General Insurance since October 2004, he has led the division to achieve consistent financial results, and has overseen the introduction of a single pan-European operational platform. In addition, he has instilled a disciplined approach to cost management and strengthened the Group’s multi-channel distribution capabilities.
James J. Schiro, Zurich’s Chief Executive Officer, said, “having successfully repositioned the Group through a relentless commitment to operational excellence and disciplined execution, today’s announcements will now allow us to apply the same determined focus on the next chapters of profitable growth and top tier performance. Patrick’s expertise and leadership skills make him uniquely qualified to drive a growth culture throughout the Group, while Dieter’s diverse experience and results-driven focus suit him perfectly for ensuring achievement of our financial targets. Together, they signal the leadership strength and depth that Zurich enjoys.”
Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 55,000 people serving customers in more than 120 countries.