Insurance firm Chubb has announced that its CEO Philip Bancrof will retire this July after serving a 19 year tenure.
In a statement the firm revealed that Peter Enns has agreed to join the company on or before April 1 as executive vice president and succeed Bancroft upon his retirement.
Enns has more than 30 years of finance and investment banking experience. He spent over 20 years with Goldman Sachs in various senior roles including partner of the firm’s U.S. financial institutions group based in New York, and chief executive of its business operations in Canada.
More recently, Enns held a number of roles with HSBC, including his last assignment as global co-head of Investment Banking Coverage based in Hong Kong.
The firm stated that Bancroft is expected to remain with the company in an advisory capacity for the balance of the year and be available to support Enns.
Even Greenberg, chairman, Chubb said: “Phil has contributed a great deal to our company’s success over his nearly 20 years. He has been a key member of the executive team that helped transform the company to become what it is today, the world’s largest publicly traded property and casualty insurer.
“Under his leadership, Phil has built and groomed an outstanding finance team. I wish Phil and his wife Denise much happiness in his retirement.”
He added: “Peter and I have known each other for more than 15 years. He has the right background to lead our finance organization, with proven experience in corporate finance, investment banking, accounting and public markets.
“He is a seasoned international executive with deep knowledge and operating experience in the Asia region, including China. His character, integrity and style are an excellent fit for the Chubb culture.”