Zurich names senior execs for insurance JV with Santander

- Thursday, October 6, 2011

Zurich names senior execs for insurance JV with Santander

Zurich Financial Services) has announced senior management appointments for its Madrid-based insurance JV with Spanish bank Santander (NYSE: STD), a press release from Zurich reads.

The new JV is called Zurich Santander Insurance America and is based in Madrid.

The Swiss insurance giant recently closed the acquisition of a 51% stake in the life insurance, pension and P&C insurance operations of Santander in Brazil and Argentina, as part of its long-term Latin American alliance with the bank, Spain's largest. In February, the two firms entered into a 25-year strategic distribution arrangement in the region.

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The general manager position will be occupied by Mexican-Spanish citizen Javier Lorenzo, the only executive from Santander. The other three executives are from Zurich.

The American-French citizen François Facon is the newly selected CFO, while Bernardino Gomez, from Spain, takes the COO post, and Argentine Raúl Vargas will head the proposition management area.

The appointments are effective immediately.