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Chartis Aligns Geographic Structure to Enhance Commercial and Consumer Strategies and Emphasize Growth Economies

Posted on 17 Jan 2012

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Chartis today announced that it has aligned its geographic structure to enhance execution of the company’s commercial and consumer strategies and to add greater focus on its growth economies initiatives. Under this framework, Chartis will be organized under three major geographic areas: the Americas, Asia and EMEA (Europe, Middle East and Africa).

Peter Hancock, Chief Executive Officer of Chartis, said, “As Chartis continues to evolve as a company, we are deploying our global resources in a manner that will create a more efficient regional framework to improve delivery of our insurance solutions and add value for our customers.”

Peter Eastwood, President and Chief Executive Officer of the U.S. and Canada, will assume responsibility for the Americas, which includes the U.S., Canada, Latin America and Bermuda. Jose Hernandez, President and Chief Executive Officer of the Far East Region, will now have responsibility for Japan and Chartis’ Asia Pacific region.

Robert Schimek has been named President and Chief Executive Officer of EMEA, with responsibility for Europe, the Middle East and Africa. Mr. Schimek had been Chartis’ Chief Financial Officer for the past six years. James Bracken, who has served as a Deputy Chief Financial Officer for Chartis, has been appointed Chief Financial Officer for the company and will report to David Herzog, Chief Financial Officer for AIG.

In addition, Alexander Baugh will become Chartis' Chief Risk Officer and Head of Strategic Planning, reporting to Sid Sankaran, AIG’s Chief Risk Officer. In this capacity, Mr. Baugh will lead Chartis’ efforts to ever improve its risk profile, and to drive its strategic plans in concert with AIG.

Mr. Baugh had been President and Chief Executive Officer of Europe since Chartis’ restructuring last year. Mr. Hancock said, “This simplified structure will permit closer coordination of the regions with the Commercial and Consumer teams, and it will allow us to put greater emphasis on growth economy nations by aligning them under our top regional executives. Profitable growth in developing countries is an essential component of our strategic plans to create greater value for all of Chartis’ stakeholders.”