Zurich names new risk officer

by Richard Kilner

Story link: Zurich names new risk officer

Axel P. Lehmann has been appointed by Zurich Financial Services Group as the firm’s new chief risk officer.

The position has been beefed up, and is now of group executive committee status.

Lehmann will take up the role on 1 January 2008, at the same time Mike Foley will replace him as the chief executive officer of the firm’s North America Commercial (NAC) division.

Foley will also join the group executive committee when he assumes his new position.

Lehmann’s great operational experience has been cited by the firm as one reason for his move, as it is deemed a man of his calibre is required for the new, higher status position.

As chief risk officer Lehmann will be responsible for group IT and facilitating growth and operational transformation.

James J. Schiro, Zurich’s chief executive officer, welcomed Lehmann by praising his leadership skills and experience, adding that his appointment highlighted the firm’s depth of talent.