Olivier Gavalda appointed Chief Executive Officer of Crédit Agricole S.A.
Met on 17 December 2024, the Board of Directors of Crédit Agricole S.A., chaired by Dominique Lefebvre, and on the basis of the opinion of the Appointments and Corporate Governance Committee, has appointed Olivier Gavalda as Chief Executive Officer of Crédit Agricole S.A. He will take up his position following the General Shareholders’ Meeting of 14 May 2025.
The transition within the General Management of Crédit Agricole S.A. will be organised in the coming months.
Biography
Olivier Gavalda has spent his entire career at Crédit Agricole. He joined Crédit Agricole du Midi in 1988 where he successively held the positions of Organisation Project Manager, Branch Manager, Training Manager and finally Head of Marketing. In 1998, he joined Crédit Agricole Ile-de-France as Regional Director, then in 2002 he was appointed Deputy Chief Executive Officer of Crédit Agricole Sud Rhône-Alpes, in charge of Development and Human Resources. In 2007 he became Chief Executive Officer of Crédit Agricole Champagne-Bourgogne. In 2010, he joined Crédit Agricole S.A. as Head of the Regional Banks Division and then in 2015 he was appointed Deputy Chief Executive Officer in charge of the Development, Customer and Innovation Division. In 2016, he became Chief Executive Officer of Crédit Agricole Ile-de-France. Olivier Gavalda has been Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of Universal Bank since November 2022.
Olivier Gavalda holds a master’s degree in Econometrics and a DESS (post-graduate diploma) in organisation/computing from Arts et Métiers.
Thierry Léger is appointed Chief Executive Officer of SCOR
The Board of Directors, acting on the proposal of the Nomination Committee, has unanimously decided to appoint Thierry Léger Chief Executive Officer of SCOR. Thierry Léger will take up his post as CEO of SCOR with effect from May 1, 2023.
Thierry Léger has 25 years of experience in the reinsurance sector, holding key positions. His expertise covers life reinsurance, P&C reinsurance and alternative reinsurance. The Board of Directors is convinced that Thierry Léger has all the professional skills and managerial qualities required to succeed as CEO of SCOR. The Board of Directors will propose that Thierry Léger join the Board at the 2023 General Meeting.
François de Varenne, Executive Committee member in charge of Investments, Technology, Transformation and Group Corporate Finance, is appointed Interim CEO of SCOR with immediate effect until Thierry Léger takes up his post. The Board of Directors has asked its Chairman Denis Kessler to lend his support to François de Varenne and then Thierry Léger, to ensure the smooth running of this change in executive management.
Laurent Rousseau, who succeeded Denis Kessler as CEO on June 30, 2021, has resigned from his position as CEO and from his position on the Board. He is leaving the Group to pursue other professional opportunities.
Thierry Léger will be responsible for drawing up a new attractive and ambitious strategic plan for SCOR, and will outline the orientations and main themes of this plan at the 2023 General Meeting. His mission will be to help SCOR further consolidate its position as a leading global reinsurer.
The January 1, 2023 P&C renewals, which took place in a favorable environment for property & casualty reinsurance, will be presented on February 7, 2023. The Q4 and full-year 2022 results will be released as scheduled on March 2, 2023.
Denis Kessler, Chairman of SCOR, comments: “Acting on the proposal of the Nomination Committee, the Board of Directors has unanimously decided to entrust the executive management of the Group to Thierry Léger, an experienced and skilled reinsurer who is an expert in both life and non-life reinsurance. Having held key positions at a major global reinsurance company, he has all the skills required to lead the SCOR group and forge a new strategic vision for the company, while pursuing an underwriting policy based entirely on technical profitability. By giving high priority to capital allocation and returns, and by practicing very strict risk management, Thierry Léger will restore the Group’s profitability and maintain its high level of solvency, to the benefit of all stakeholders: clients, shareholders and employees. SCOR is embarking on a new chapter in its history. On behalf of the Board of Directors, I would like to thank Laurent Rousseau for the contribution he has made to the Group during a particularly difficult period.”
Fabrice Brégier, Chairman of the Nomination Committee, comments: “In line with its mandate, and in strict compliance with the principles of corporate governance, the Nomination Committee sought to pinpoint the qualities needed to lead a global reinsurance company in an increasingly complex environment. The profile it drew up was of a leader capable of managing a risk universe that is changing rapidly, in both life and P&C (re)insurance. Thierry Léger fits this profile perfectly, which is what led the committee to propose his appointment as CEO to the Board. The committee also recommended that the interim period be overseen by François de Varenne, building on his 17 years of experience in various roles at SCOR.”
Thierry Léger comments: “I am very happy to be joining SCOR and am honored by the confidence the Board of Directors has placed in me by appointing me CEO. I look forward to meeting the Group’s employees, clients and shareholders. I plan to actively pursue the growth of the company by continuing to develop its products and its structure. The reinsurance sector offers many opportunities, both on the liability side with the increased demand for cover and the improvement of terms and conditions, and on the asset side with the rise in interest rates. I am convinced that SCOR is well placed to take full advantage of this favorable environment. I know that I can count on highly skilled and experienced teams, and on excellent client relations. Let’s all make this journey together. I will focus all my energy on giving fresh impetus to SCOR.”
Andrew Carrier appointed as Chief Executive Officer of MS Amlin Underwriting Limited
MS Amlin Underwriting Limited (MS AUL), the Lloyd’s (re)insurer, announced the appointment of Andrew Carrier as Chief Executive Officer (CEO). Carrier, currently MS AUL’s Chief Underwriting Officer (CUO), will take up the role on 1 January 2023, subject to regulatory approval.
Carrier brings more than two decades of leadership experience in international (re)insurance markets, taking up his new role after two years as MS AUL’s CUO. He has played a pivotal role in transforming MS AUL’s underwriting strategy and portfolio, creating a more sustainable future for the Company and helping it return to profitability.
Prior to his role at MS AUL, Carrier spent six years at Everest Re, where he was responsible for the firm’s London Market, Continental Europe, and Asia Pacific reinsurance operations. His career also includes serving as Group CUO at Argo for seven years and more than two decades at Kiln.Carrier succeeds Johan Slabbert who has been appointed as CEO of MSIG Holdings (U.S.A.) Inc. In this newly created role, Johan will be responsible for driving forward the US growth strategy of Mitsui Sumitomo Insurance (MSI) – MS AUL’s parent company – as it seeks to build on its growing domestic foundations following the proposed acquisition of Transverse LLC, in August this year, subject to regulatory approval. Slabbert will remain with MS AUL until the end of the year to support a smooth transition and regulatory handover.
Shinichiro Funabiki, CEO at Mitsui Sumitomo Insurance Company Limited, said: “I am delighted to announce Andrew’s appointment as MS AUL’s new CEO. Andrew has demonstrated exceptional leadership over the past two years, particularly through the measures he has put in place to create a best-in-class underwriting function with a relentless focus on client-service and profitability.“I am confident that Andrew will continue with the great work that he, alongside the broader executive team, is doing to modernise and future proof the business. We remain fully committed to supporting MS AUL as the momentum builds behind its long-term growth strategy and its objective to become a leading Lloyd’s syndicate with a sustainable future.’
“I would also like to take this opportunity to congratulate Johan on his new role in the US. Johan’s commitment and contribution to MS AUL’s transformation has been outstanding, leading its successful return to profitability and significantly enhancing its future prospects. We’re looking forward to continuing to work closely with him as he spearheads MSI’s ambitious growth plans in the crucial US market.”
John Rice, Retired Vice Chairman of GE and former President and Chief Executive Officer of the GE Global Growth Organization, Joins AIG’s Board of Directors
American International Group, Inc. announced that its Board of Directors has elected John Rice as a Director of the company, effective March 17, 2022. Mr. Rice, 65, is the retired Chairman of GE Gas Power and former President and Chief Executive Officer of the GE Global Growth Organization.
“John has significant experience and expertise leading complex, global organizations, particularly in jurisdictions outside the United States, and will add unique and diverse insights to our Board,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “As we strive to be a top performing company, I am very confident John will be a tremendous asset to AIG and a strong thought leader for the AIG Board.”
Mr. Rice brings extensive global business experience, having worked and lived abroad while in various leadership positions with General Electric in its global markets, including Hong Kong, Singapore and Canada, before retiring from GE as Vice Chairman in 2018. He also served as Non-Executive Chairman of GE Gas Power from 2018-2020. Prior to these roles, Mr. Rice was President and Chief Executive Officer of the GE Global Growth Organization for seven years. He is currently a director for Houston-based Baker Hughes.
“I am delighted to join the AIG Board and look forward to working with the other Directors in supporting Peter Zaffino as we pursue the company’s long-term strategy,” said Mr. Rice.
Mr. Rice is a graduate and Trustee of Hamilton College in Clinton, New York. He is also a Trustee of Emory University in Atlanta, Ga.
Photo: Business Wire
GasLog Ltd. Announces Chief Executive Officer Transition
GasLog Ltd., yesterday announced that Paul Wogan, Chief Executive Officer (“CEO”) of GasLog, has informed the board of directors of GasLog (the “Board”) that he intends to retire from his role as CEO effective March 9, 2022. He will remain, in an advisory role until June 30, 2022 to ensure a smooth transition. The Board is pleased to appoint Paolo Enoizi, currently Chief Operating Officer (“COO”) of the Company as well as CEO of GasLog Partners LP (“GasLog Partners”), as CEO of GasLog Ltd effective March 10, 2022.
Peter Livanos, Chairman of GasLog, said, “Under Paul’s outstanding leadership over the last 10 years, GasLog has grown and developed to become one of the world’s leading LNG shipping companies. I would like to express our sincere thanks to Paul for all his hard work and dedication to GasLog and wish him all the best in his retirement.
I am very pleased that Paolo has agreed to take over the CEO role from Paul. Paolo has been GasLog’s COO since April 2019 and has been CEO of GasLog Partners since August 2021. I have every confidence that Paolo will meet and exceed our expectations, and I am looking forward to working closely with him as he evolves the Company in the years to come.”
MS Amlin AG appoints Robert Wiest as Chief Executive Officer
MS Amlin AG (MS AAG), the global reinsurer, today announces the appointment of Robert Wiest as Chief Executive Officer (CEO). Wiest will take up the role on 03 January 2022 and will be based in Zurich, Switzerland.
Robert Wiest brings over 30 years of industry experience. During a career at Swiss Re spanning over two decades, most recently as Chief Operating Officer, Wiest has successfully led business units as the Head of Global Business Solutions, Head of Strategy and Operations for Asia, and Head of Western and Southern Europe, the Middle East, and Turkey. He has also led high-level business development, transformational and digitisation projects globally. Wiest’s international experience across key markets is well-suited to drive continued growth and innovation at MS AAG.
Wiest will assume the position from Martin Albers, Chairman of the Board of Directors, who is currently serving as CEO on an interim basis. Albers will work with Wiest upon his appointment to ensure the continuation of a high-level of service through the transition.
Tamaki Kawate, Director and Senior Executive Officer at Mitsui Sumitomo Insurance Company Limited, commented: “We are delighted that Robert has stepped forward to take up the mantle at MS AAG. Robert is one of the sector’s highly regarded leaders with a track record that speaks for itself. He brings an innovative, responsive approach to leading ambitious growth projects in high-profile reinsurance organisations. His unrivalled expertise and leadership credentials will be integral to taking MS AAG forward as it continues on its journey to develop a diverse, efficient, profitable and client-focused business.”
“I would like to take this opportunity to thank Martin for his support. His expertise as Chairman is vital to ensuring the continued strength of the MS AAG business through this transition.”
Talanx Group mourns the passing of Wolf-Dieter Baumgartl, long-serving Chief Executive Officer and Chairman of the Supervisory Board
Wolf-Dieter Baumgartl served as Chairman of the Board of Management of HDI V.a.G. from 1993 to 2006 and Chief Executive Officer of Talanx AG from 2000 to 2006. In 2006 he became Chairman of the Supervisory Boards of HDI V.a.G. and Talanx AG until stepping down in 2018. A fully qualified lawyer, he was also a member of the Supervisory Board of Hannover Rück SE from 1993 onwards, which he chaired until 2009. He had previously served as Chief Executive Officer of AMB Aachener und Münchener Beteiligungs-Aktiengesellschaft until 1993.
As Chief Executive Officer and Chairman of the Supervisory Board, Wolf-Dieter Baumgartl led HDI Versicherungsverein auf Gegenseitigkeit with courage and foresight through its evolution from a mid-sized player into an international insurance group. The expansion of HDI Global SE into a leading industrial insurer, the development of our international retail business by HDI International AG, the acquisition of the Gerling Group in 2006 and the going public of both Talanx AG in 2012 and Hannover Rück SE in 1994 were major milestones. Premium income grew from EUR 3.7 billion to roughly EUR 20 billion by 2006 (2020: EUR 41 billion). The Group moved up the ranking of German insurance groups from number 8 to number 3.
Herbert K. Haas, the current Chairman of the Supervisory Boards of Talanx AG and HDI V.a.G., praised Wolf-Dieter Baumgartl for his prominent role in shaping the German insurance industry. “Long-term, forward-looking action, the courage to take on challenging risks, creativity combined with robust assertiveness, as well as a keen intellect coupled with a very straightforward and human manner – these were the qualities that set him apart. He will be deeply missed.”
The Supervisory Board, Board of Management and all employees of the Talanx Group would like to express their deepest condolences to his wife and family.
AXA’s Board of Directors proposes the renewal of Thomas Buberl’s term as Chief Executive Officer
Based on the recommendation of its Compensation and Governance Committee, AXA’s Board of Directors decided to propose the renewal of Thomas Buberl’s mandate as a member of AXA’s Board of Directors and Group Chief Executive Officer. The renewal of his mandate as a director, for a period of 4 years, will be proposed to AXA’s shareholders at their next Annual General Meeting in April 2022.
DENIS DUVERNE
CHAIRMAN OF THE BOARD OF DIRECTORS OF AXA
The profound transformation of AXA led by Thomas Buberl and all the teams has enabled the Group to face an unprecedented health and economic crisis, to be very well positioned to respond to the new challenges of the insurance industry and to accelerate its development by relying on its great solidity, as shown by the recentexcellent half-year results.
Fully confident in the Group’s future, the Board of Directors has unanimously decided, as proposed by the Compensation and Governance Committee chaired by Jean-Pierre Clamadieu, to confirm Thomas Buberl’s renewal as Chief Executive Officer. The Board counts on him to successfully implement its strategic plan “Driving Progress 2023”, to seize growth opportunities that will enable AXA to respond to the evolving needs of clients and society, and to pursue the Group’s transformation over the longer term.
THOMAS BUBERL
CHIEF EXECUTIVE OFFICER OF AXA
I would like to thank the Board of Directors for the confidence it has placed in me. The decision to propose the renewal of my mandate as Chief Executive Officer of AXAis a tribute to the hard work and commitment of all the Group’s employees and confirms the relevance of the strategic choices we havemade over the past few years to prepare AXA for the new challenges ahead. On a personal level, I feel proud of what we have achieved together and am grateful to have the opportunity to continue leading this unique company over the coming years and to write a new page in its journey.
Olivier Gay is named President and Chief Executive Officer of SCOR Canada Reinsurance Company
SCOR announces that Olivier Gay has been appointed Chief Executive Officer for SCOR Canada Reinsurance Company, succeeding Paul Christoff, effective June 11, 2021. He will continue to serve as Chief Underwriting Officer for SCOR Canada and will report to John Jenkins, CEO of Reinsurance Operations for the Americas. In this expanded role, Olivier will oversee all facets of the Canadian operations and drive the superior level of service that SCOR Canada delivers for its clients.
John Jenkins, CEO of the Reinsurance Operations for the Americas, comments: “With more than a decade of experience at SCOR across three continents, Olivier brings a wealth of experience to this expanded role. His success and leadership since joining the team in Canada will further enhance SCOR’s position as a key player in the Canadian market.”
Biography
Olivier Gay is a French citizen and a graduate of the French Business School of Nantes, where he obtained a master’s degree with a major in Corporate Finance and Business Administration. He joined SCOR in 2010 and has held positions of increasing responsibility. He was most recently named Chief Underwriting Officer for SCOR Canada Reinsurance. Prior to relocating, he served as Deputy Chief Financial Officer for the SCOR Asia-Pacific region, based out of Singapore, and before that he worked in the Paris office for SCOR Global P&C as the Head of Capital Management & Financial Analysis and as Chief Accounting Officer.
Appointment of Kerry Ching as Chief Executive Officer of Amundi in Hong Kong
Amundi, the leading European asset manager, announces the appointment of Kerry Ching as Chief Executive Officer of Amundi in Hong Kong.
Kerry CHING, Chief Executive Officer, Amundi Hong Kong
Kerry Ching has over two decades of experiences in financial industry across different markets in Asia, accumulating deep knowledge of the fund management market and business development. Her most recent role prior to joining Amundi was Managing Director at AMP Capital Asia Limited where she was responsible for business development.
Before this, Kerry held a number of leadership roles in various global asset managers from 1999 – 2012. She was Country Head at FIL Investment Management (Hong Kong) Limited, Managing Director at UBS Global Asset Management (Hong Kong) Limited and Chief Executive Officer at Invesco Hong Kong Limited.
Kerry received a Bachelor degree in Business Administration from The Chinese University of Hong Kong, an MBA from The University of Western Ontario and a Master of Engineering in e-Commerce from The University of Hong Kong. She is also a CFA and a CAIA charter holder, a CFP and a Canadian CPA.