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)