ACE appoints future leadership team for Boston
Insurance provider ACE has announced the leadership team it intends to appoint for the Boston region of the company’s North America field organisation. The appointments will be effective upon the acquisition of Chubb by ACE, which is expected in the first quarter of 2016.
Mitchell Schmidt will take on the role of senior vice president (SVP), North America insurance and regional executive officer (REO) of the Boston region. Currently, Schmidt is REO, Northeast, ACE USA.
Schmidt, who was named in an earlier announcement to serve as regional chief operating officer (RCOO) for the Boston region, will have responsibilities that were previously announced for John Swords, who will retire from Chubb at the end of 2015. Schmidt will report to Harold Morrison, Jr, who will serve as SVP of the new Chubb Group and division president, field operations for the North America insurance division.
In his role of REO, Schmidt will be responsible for executing the underwriting and sales strategies of the new Chubb’s business units, staff management, production, profit and loss, and distribution management in the Boston region, which will be one of eight North America Insurance regions across the US and Canada. In addition to his REO duties, Schmidt will manage the Boston office, according to ACE.
Jeffrey Updyke take the role of RCOO of the Boston region and report to Schmidt. Currently, Updyke is SVP and New Haven branch manager for Chubb. In addition to his RCOO duties, Updyke will manage the New Haven branch office, and the Rochester branch office will report to him.
“Given the wide spectrum of risks that are unique to each region, it's imperative our future field organization is nimble,” said Morrison.
"Mitch and Jeff are talented field leaders who represent the deep bench strength in the Northeast. They possess the management skills, sound industry insights and strong distribution relationships that will help our new organisation generate significant profitable growth in that market."