Sun Life Enhances Risk Management in Asia with Appointment of Niall Grady as Chief Risk Officer
Sun Life announced the appointment of Niall Grady as Chief Risk Officer for Asia, effective September 16, 2024.
Niall will support the acceleration of Sun Life’s strategy and growth aspirations in the region through active risk management and coordinated risk initiatives across Asia. He will play a pivotal role in effective governance and ensuring synergies across our Asia operations
With more than two decades of leadership experience in enterprise, operational and investment risk management and compliance across banking, financial services, asset management and the insurance industries, Niall brings a wealth of experience to Sun Life. He joins from FWD Group where his roles included Chief Compliance and Investment Risk Officer and Chief Compliance & Operational Risk Officer.
Tom Murphy, EVP and Chief Risk Officer at Sun Life, commented on Niall’s appointment saying, “Niall’s arrival marks a significant advancement in our ongoing journey to enhance our risk management framework furthering our company’s commitment to achieving secure and thriving growth in Asia. His strategic approach to people and policyholders, aligns with Sun Life’s Purpose of helping Clients achieve lifetime financial security and live healthier lives. Niall’s leadership and experience will support us in achieving our growth ambitions in Asia.”
Niall Grady commented on his new role: “I am thrilled to be joining Sun Life during such an important time in the region. It’s an exciting opportunity to contribute to a company that values the balance between managing risks and fostering growth. I look forward to supporting our strategies across the region and ensuring that our risk management practices are robust and effective, setting us up for long-term success.”
Niall holds a Bachelor of Arts degree from Portsmouth University and an Honours in Bachelor of Science degree in Financial Services from the University of Manchester.
David Menezes Appointed Chief Risk Officer at Peak Re
Peak Re Insurance Company Limited (“Peak Re” or the “Company”), a Hong Kong-based global reinsurer, is pleased to announce the appointment of Mr. David Menezes as Chief Risk Officer, effective immediately. Mr. Menezes has been serving as the Deputy Chief Risk Officer at Peak Re since September 2022.
During his tenure as Deputy Chief Risk Officer, Mr. Menezes has been instrumental in upholding Peak Re’s high standards of risk management and oversight. His responsibilities include ensuring regulatory and legal compliance, a comprehensive understanding of risks and exposures, and safeguarding the Company’s financial strength.
Franz-Josef Hahn, CEO of Peak Re, commented: “David has consistently demonstrated exceptional oversight of our Risk, Compliance, and Legal functions. His leadership skills have been pivotal in fostering a risk-oriented culture throughout the company, driving our risk management strategies and maintaining our robust financial health. I am pleased to congratulate David on this well-deserved promotion.”
Mr. Menezes, a Fellow of the Institute and Faculty of Actuaries, has been a dedicated member of the Peak Re team since 2016. His active participation in several industry working groups, advising on the implementation of IFRS17 for general insurance and the development of risk-based capital solvency standards, underscores his deep understanding of the reinsurance industry. Mr. Menezes holds a postgraduate degree in Physics from the University of Oxford.
Allianz welcomes Hanna Kam as Chief Risk Officer and Jason Howes as Chief Transformation Officer
Allianz UK has made two key changes to its most senior leadership layer, welcoming Hanna Kam to the company as chief risk officer, and promoting Jason Howes to chief transformation officer.
The senior moves reflect an ongoing strategic drive to grow and strengthen Allianz in the UK and follow recent steps to build wider consumer and market awareness of the Allianz brand.
Hanna joins as chief risk officer on 1 June, subject to regulatory approval, and will be a member of the Allianz UK Executive Committee. She has more than 25 years’ global experience in the insurance industry and is a recognised senior leader in risk management.
Most recently she was group chief risk officer at Hiscox for almost ten years and was responsible globally for enterprise risk management and compliance. A qualified actuary, she has also held senior roles with EY and Zurich Australia.
John Berry, chief risk officer for Allianz UK, has decided to step down following ten years at the company in a variety of senior leadership roles, including over four years as chief risk officer, and will pursue new opportunities within the Allianz Group. John joined Allianz in 2015 following a previous career at WTW and was appointed chief underwriting officer for personal lines in 2017. He became overall chief risk officer in January 2020 for Allianz in the UK.
Colm Holmes, Allianz Holdings CEO, commented:
“John has played a key role in the history of Allianz UK, including as chief underwriting officer of personal lines, alongside setting up the joint venture with LV= and then navigating Covid and more recent market challenges as chief risk officer. He helped to bring the different parts of our business together to create one Allianz. I’d like to thank John for his huge contribution.”
Colm Holmes, Allianz Holdings CEO
John Berry added: “We have built a great platform for future success and I am very proud of all of Allianz’s achievements. It’s been a fantastic privilege to work with Colm and the Executive Committee over the years, and I wish the team the very best for the future.”
Allianz has also today announced the creation of the new role of chief transformation officer, which will be taken up on 1 June by Jason Howes.
He brings almost 27 years’ industry experience to the role, including more than two decades with Allianz, and his previous role was director of business transformation at Allianz. Jason will oversee all large-scale change projects and initiatives in the Allianz UK business.Both roles will report to Colm Holmes, who added:
“This is a pivotal and exciting time for us as we align our businesses to deliver the combined strength of one Allianz, and work towards becoming the number one general insurer in the UK. These two senior leaders take up vitally important roles and will help drive our strategic momentum for growth.
I’m delighted Hanna is joining us, she brings a wealth of global insurance industry experience and a compelling blend of board, risk and regulatory exposure. She has a track record of strong leadership and excels at delivering change and results in complex environments. Her insights will be invaluable in supporting the overall growth strategy for the business.
And as we move our business forward, it is imperative that we continue to manage major change projects effectively, so we have created a new role of chief transformation officer, which I am delighted to welcome Jason into. He’s achieved a huge amount at Allianz and I’m sure he will continue to do so.”
HSBC Appoints Lloyd Plenty to US Chief Risk Officer
HSBC USA announced that Lloyd Plenty has been appointed US Chief Risk Officer. He will join the bank in early September.
In this role, Plenty will be responsible for all aspects of risk management for HSBC in the United States. Plenty will report to Michael Roberts, CEO US and Americas, and Pam Kaur, Group Chief Risk and Compliance Officer.
“After a comprehensive search, we are thrilled for Lloyd to join HSBC,” said Roberts. “Lloyd’s well-rounded experience and strong leadership will be instrumental in taking our Risk organization into the future.”
Lloyd joins from BNP Paribas, where he served as Americas Chief Risk Officer for the Corporate & Institutional Bank and Asset Management, covering all financial and non-financial risk. In prior roles at the firm, he led risk management for the Securities Services, Wealth Management and Market Infrastructure businesses and served as Global Head of Control and Reporting for Capital Markets before becoming Head of Counterparty Risk and Financial Institutions for the Americas. Lloyd received his Bachelor of Science degree in Monetary Economics from the London School of Economics and Political Science.
Everest Mourns the Passing of Chief Risk Officer & Chief Actuary, Don Mango
Everest Re Group, Ltd. announced with great sorrow the passing of Don Mango, the company’s Chief Risk Officer and Chief Actuary. Don was a respected industry leader and played a key role in elevating the company’s culture of rigorous risk management. Ari Moskowitz, Everest Reinsurance Chief Operations Officer and Chief Pricing Actuary has been appointed Everest Group Chief Risk Officer to lead the risk function and carry Don’s legacy forward.
Don’s contributions to the risk management and actuarial community were widely recognized throughout his three-decade long career. He was a prolific prize-winning author and researcher, published broadly across actuarial journals and was an Adjunct Lecturer at the Columbia University School of Professional Studies. Don served two terms on the Casualty Actuarial Society (CAS) Board, four years as CAS Vice President of Research and Development and was honored with the CAS Matthew Rodermund Memorial Service Award for his achievements.
“With Don’s passing, we lost a beloved colleague and friend. Don was a legend in our industry and had an immeasurable impact on Everest’s business and culture,” said Juan C. Andrade, Everest President and CEO. “He was deeply committed to supporting the next generation of risk management leaders. To honor his legacy, Everest is establishing the Don Mango Scholarship at the Greenberg School of Risk Management, Insurance and Actuarial Science at St. John’s University. Additionally, we are creating the Don Mango Award for Innovation to recognize Everest colleagues who demonstrate excellence within our company.”
Andrade concluded, “Don’s tireless pursuit of innovation in the risk profession is an inspiration, and Ari demonstrates this same passion and commitment. We look forward to working with him to advance this vision.”
Ari will report to Jim Williamson, Group Chief Operating Officer and Head of Everest Reinsurance. He will be responsible for the company’s risk management strategy, enterprise risk management framework and related Group processes, including capital performance management.
Ari brings deep experience in risk management and reinsurance to his new role. Most recently, he was Everest Reinsurance’s Chief Operations Officer and Chief Pricing Actuary. For nearly a decade at Everest, Ari has played a key role in integrating risk discipline within the Reinsurance business. Throughout his career, Ari served in increasingly senior actuarial roles at various global reinsurance and insurance organizations. Ari is a passionate steward of talent and an advocate for diversity, equity and inclusion at Everest and industry wide.
“I had the pleasure of working alongside both Ari and Don to evolve our disciplined enterprise risk framework, which is crucial to our company, core to our mission and embedded in everything we do,” said Jim Williamson, Group COO and Everest Head of Reinsurance. “This, coupled with his deep actuarial expertise and reinsurance acumen makes Ari the ideal leader to advance our robust culture of rigorous risk management.”
AIG Appoints Tom Bolt Executive Vice President and Chief Risk Officer
American International Group, Inc. announced that Tom Bolt, 65, has been named Executive Vice President and Chief Risk Officer, AIG, effective immediately. Mr. Bolt replaces Sabra Purtill, who was recently named Executive Vice President and Chief Investment Officer for AIG’s Life & Retirement business. Mr. Bolt will report to Peter Zaffino, Chairman & Chief Executive Officer, AIG, and has joined the AIG Executive Leadership Team.
“Over his more than 35 years in insurance and reinsurance, Tom has developed deep underwriting expertise and, since joining AIG in 2018, he has played a critical role in the turnaround of our General Insurance business by setting standards for underwriting excellence and playing a leadership role in strengthening our culture while reshaping our portfolio,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “His unique background, experience and stature in our industry will be invaluable as we continue to focus on managing complex, operational and global risk issues at AIG. I look forward to working with Tom in this new role as we refine our risk management framework across our global business.”
In addition, Kean Driscoll, 48, has been named Chief Underwriting Officer, General Insurance, effective immediately, and will report to David McElroy, Executive Vice President and Chief Executive Officer, General Insurance. Since 2019, Mr. Driscoll has served as Global Chief Underwriting Officer, Property/Agriculture, as well as Global Head of Reinsurance Strategy, General Insurance, since 2020.
Mr. Zaffino continued, “Since joining AIG in 2018, Kean has been a key contributor to our portfolio management and in shaping our strategic reinsurance structures. As Chief Underwriting Officer, his expertise in underwriting and modeling application will continue to drive momentum as we continue our journey to become a top performing company.”
Mr. Bolt has served as Chief Underwriting Officer, General Insurance, since 2018. He joined AIG from Berkshire Hathaway Specialty Insurance, where he was President and CEO of the U.K. and Southern Europe, and a member of Berkshire Hathaway International Insurance Ltd.’s Board of Directors. Prior to that, Mr. Bolt was Director of Performance Management at Lloyd’s of London and Managing Director of Marlborough Managing Agency at Lloyd’s. Before joining Lloyd’s, he spent 25 years at Berkshire Hathaway in a variety of senior executive roles. Mr. Bolt holds a M.M. in Marketing and Finance and a B.A. in English Literature and Economics from Northwestern University.
Mr. Driscoll has served as Global Head of Reinsurance Strategy, General Insurance, since 2020 and Global Chief Underwriting Officer, Property/Agriculture, General Insurance, since 2019. He was a founding member of Validus and served as Chief Executive Officer of Validus Re from 2012 until he joined the AIG General Insurance Chief Underwriting Office in 2019. He has more than 25 years of experience as a reinsurance underwriter, and previously held leadership roles with Quanta Re and Zurich Re N.A. (Converium). Driscoll holds a B.A. in Literature from Colgate University and an MBA from Columbia University, where he graduated with honors.
Piraeus Bank: Appointment of new Chief Risk Officer (CRO)
Piraeus Bank announces that the Board of Directors of the Bank, at its meeting held on 23 July 2020, has appointed Mr. Ioannis Stamoulis as new Chief Risk Officer (CRO) to head the Group Risk Management. Mr. Stamoulis assumes his CRO duties effective today.
Mr. Stamoulis has 18-year experience within the banking industry, 13 years of which in Piraeus Bank in the Risk division. Since December 2017, he is the Deputy Chief Risk Officer.
MS Amlin Insurance SE appoints new Chief Executive Officer and Chief Risk Officer
MS Amlin Insurance Societas Europaea (MS AISE), today announces the appointments of Ludovic Sénécaut as Chief Executive Officer (CEO) and Rogier Peters as Chief Risk Officer (CRO).
Ludovic replaces interim CEO Rudy Benmeridja who will return to his role of Chief Underwriting Officer for P&C Europe and Country Manager for Belgium. He brings a wealth of leadership and industry experience, having spent fifteen years in Euler Hermes Group and has held a number of senior positions such as Group COO, CEO Northern and Eastern Europe. Latterly he served as Chief Executive Officer for the Kerudys Group.
Rogier replaces CRO Martyn Rodden, who will transition to a new role as Deputy CEO of MS AUL, [MS AISE sister company operating at Lloyd’s]. He is a qualified actuary who joins from Ageas UK where he served as CRO. He has held a number of senior risk positions in the insurance sector internationally and across Ageas Group.
Alongside these two key management roles, MS Amlin has also appointed Robert Dickie and Monika Sebold-Bender as Non-Executive directors to the MS AISE Board. They are highly experienced industry practitioners who bring many years of combined leadership experience in banking and insurance to the business. Monika will also chair the MS AISE Underwriting Oversight Committee.
Peer van Harten, Chairman, MS AISE said: “I am delighted to announce a series of strong appointments to MS AISE’s Board and Management Committee that will significantly strengthen MS AISE’s business. As our new CEO, Ludovic’s experience, expertise and strong leadership track-record will be key to our growth and success in Europe, while Rogier’s strong technical expertise and industry and leadership experience will be integral to executing the business’s strategy. I am looking forward to working closely with them both and the new highly experienced MS AISE Non-Executive Board members.
“I would like to thank Rudy and Martyn for their contributions as interim CEO and CRO respectively. Their dedication and commitment to the business has been integral during this period and I am confident they will continue to excel as they take on other responsibilities within the business.”
Aviva plc appoints Jan-Hendrik Erasmus as Chief Risk Officer
Aviva plc (“Aviva”) announces the appointment of Jan-Hendrik Erasmus as Chief Risk Officer, reporting to Maurice Tulloch. Jan-Hendrik will start in February 2020 and will be a member of the Aviva Leadership Team.
Jan-Hendrik joins Aviva from NN Group where he was Chief Risk Officer for over three years. He was also a member of NN Group’s management board.
Jan-Hendrik has a breadth of experience in the financial services industry, working across insurance, risk, technology and investment management in the UK and internationally – in companies including Oliver Wyman and Prudential plc.
Maurice Tulloch, Chief Executive Officer at Aviva, said:
“Jan-Hendrik’s extensive experience will help strengthen Aviva’s risk management framework and risk culture. I’m looking forward to Jan-Hendrik joining the team.”The appointment is subject to regulatory approval.