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RSA appoints emerging markets head as chief operating officer
April 15, 2014 / 8:57 AM / 4 years ago

RSA appoints emerging markets head as chief operating officer

LONDON, April 15 (Reuters) - British insurer RSA has appointed its emerging markets chief to the new role of chief operating officer to oversee sales of non-core businesses as the company shores up a weakened balance sheet.

In a statement on Tuesday, RSA said Paul Whittaker, currently chief executive of emerging markets, will become COO from May 1.

“This role reflects our new strategy and will provide essential co-ordination and focus for the successful delivery of the self-help measures underway to recapitalise the business,” Group Chief Executive Stephen Hester said.

RSA is seeking to raise up to $2.7 billion in capital, around half of which will come from disposals and money saved by scrapping its dividend with the rest put up by shareholders in a rights issue earlier in April. (Reporting by Chris Vellacott. Editing by Matt Scuffham)

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