Arch issues Q4 2018 loss estimate
Arch Capital Group has announced that John Pasquesi is to succeed Constantine “Dinos” Iordanou as chairman of its board of directors in September upon the completion of Iordanou’s term.
Pasquesi is currently lead director of the board of directors and has been a member of the board and vice chairman since 2001. Pasquesi is the managing member of Otter Capital, a private equity investment firm he founded in January 2001. Prior to Otter Capital, Pasquesi was a managing director of Hellman & Friedman.
Iordanou joined Arch in 2002 to create its insurance segment and went on to serve CEO of the company from August 2003 until March 2018, when current CEO Marc Grandisson assumed the role as part of a planned succession.
“Dinos was instrumental in developing Arch into a highly profitable company with a worldwide insurance, reinsurance and mortgage insurance presence,” said Pasquesi. “The Board and I want to recognise all he did to establish Arch as a leader in the insurance industry and to develop the generation of managerial talent that is currently leading the business. We have great respect and admiration for Dinos both as a leader and as a person.”
Pasquesi added, “We have successfully completed the CEO transition process, and I look forward to continuing to work with the rest of the Board, Marc and the existing management team to help sustain Arch’s future growth.”
ACGL president and CEO Marc Grandisson said, “I want to thank Dinos for his significant contributions in making Arch such a successful company. I am grateful to have had the opportunity to learn from and work with him for nearly twenty years. I look forward to ongoing engagement with our Board of Directors under John’s leadership as we continue to help our clients, employees, investors and communities achieve their greatest potential.”
Arch Capital, board, new, appointment