* Swiss Re's Quinn to move to Zurich in May
* Interim Zurich CFO Sharma goes back to controller role
(Adds statement from Swiss Re)
ZURICH Dec 16 Swiss Re finance chief
George Quinn is to take on the same role at larger rival Zurich
Insurance following the suicide in August of Zurich's
CFO Pierre Wauthier.
British citizen Quinn, a 14-year veteran of reinsurer Swiss
Re, joins a company still shaken by the death of Wauthier, which
prompted Zurich's chairman Josef Ackermann to quit shortly
The 47-year-old Quinn, who takes over in May, will still
attend Swiss Re's fourth-quarter earnings presentation on Feb.
20, a spokesman for the reinsurer said. Swiss Re said it "very
much" regretted Quinn's departure.
In a suicide note, Wauthier wrote of a more aggressive
atmosphere at Zurich under Ackermann that had left him
demoralised, according to several people who said they saw the
The insurer conducted a review that found Wauthier did not
come under "undue pressure" before his death. Ackermann, a
previous head of Deutsche Bank, rejected the idea
that his actions may have caused Wauthier to take his life.
Zurich said Vibhu Sharma, who had been acting as the
insurer's CFO following the death of Wauthier in August, will go
back to his role as a controller when Quinn arrives in May.
Earlier this month, Zurich lowered its target for return on
equity (RoE) of 12 to 14 percent through 2016, from 16 percent,
but promised to keep paying an attractive dividend over the next
three years as it invests in more profitable areas and sells
underperforming business lines.
(Reporting By Katharina Bart; additional reporting by Paul
Arnold; editing by Tom Pfeiffer)