Tuesday, February 12, 2013

Aspen of chief risk officer resigns

Cusack dispense Director role

Aspen Insurance Holdings chief risk officer Julian Cusack stepped down from his role with immediate effect.

Cusack will also step down from the company Board of Directors at the annual general meeting of 24 April 2013.

Cusack is a co-founder of Aspen and has held various positions within the company, including chief financial officer and Chairman of Aspen Bermuda.

He is a Director since 2002, responsible for the strategic projects and as Chairman of Aspen Bermuda will continue.

Aspen from head of risk Stephen End will take over as chief risk officer. Postlewaite is working at the company since 2003 and was acting chief risk officer from February to October 2012 while Cusack took over the role of chief financial officer Act during Aspen the search for a permanent chief financial officer.

Aspen the chief executive Chris O'Kane said: "Julian is an invaluable member of our executive management team for the past decade, and no one more to make sure our capital and risk management framework has remained robust and resilient, especially during prolonged periods of economic and market uncertainty. He has an enormous contribution to the Aspen growth and development and we are delighted that he is staying with us and maintain responsibility for the strategic projects and as Chairman of Aspen Bermuda. "

He continued, "we are very fortunate to in Stephen End someone with a wealth of experience that will be able to step to Julian's role seamlessly, the position on the basis of Act have taken on a large part of 2012. I look forward to working with Stephen again in this capacity. "

Aspen has Gordon Ireland also appointed as non-Executive Director. Ireland is the General Manager and a Director of L & F fee Holding Company, PWC's caught insurer, since July 2010. Prior to this he spent his career with PwC and its predecessor companies.

Additionally, Ian Cormack decided to step down from the Board of Directors and as President of Aspen the audit committee and as a member of the enterprise risk and remuneration committees at the annual general meeting. Since 2003 he has been a non-Executive Director.

Aspen President Glyn Jones said: "I want to thank Ian for his very important contribution to the company over the last ten years. His broad international experience, set up financial knowledge and business acumen have benefited greatly from the company and on behalf of the Council, I wish him well for the future. "

He went on: "I am pleased that Gordon joins the Aspen Board. His wealth of accounting experience and deep knowledge of the sector insurance and broader financial services will be a great asset to Aspen. "

O'Kane added: "I want to express my gratitude to Ian to the richness of the experience he gained while working in complex international financial institutions to contribute for Aspen. In particular, he has helped me tremendously in creating the right organizational design and administrative infrastructure that has underpinned the Aspen development and growth in a successful global specialty insurer and reinsurer. "

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