Zurich — Zurich Financial Services Group announced that it is elevating the role of Chief Risk Officer to Group Executive Committee status, and appointing Axel Lehmann to the position, effective Jan. 1, 2008. Also on that date, Mike Foley will succeed Lehmann as CEO of Zurich’s North America Commercial (NAC) division, and will become a member of the Group Executive Committee.

Lehmann brings extensive operational experience to the new role, which reflects the elevated importance attributed to the Chief Risk Officer position. In addition, he also will assume responsibility for Group IT, positioning the function as an enabler for profitable growth and operational transformation.

Foley joined Zurich in September 2006 as North America Commercial’s COO, where he was responsible for the division’s operating matters, including managing divisional performance, driving strategic initiatives and overseeing corporate operations, business engineering and IT.

Source: Zurich Financial Services Group

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