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Aspen Insurance Holdings announced that co-founder Julian Cusack will be stepping down from his position as chief risk officer, effective immediately.
Cusack will also step down from the board at Aspen’s annual meeting in April. Stephen Postlewhite, currently head of risk, will step into the chief risk officer role. Cusack will remain with the company with responsibility for strategic projects and as chairman of Aspen Bermuda.
Chris O’Kane, Aspen’s CEO, said: “Julian has been an invaluable member of our executive management team for the past decade and no one has done more to ensure that our capital and risk management framework has remained robust and resilient, particularly during prolonged periods of economic and market uncertainty. We are very fortunate to have in Stephen Postlewhite someone with a wealth of experience who will be able to step into Julian’s role seamlessly, having undertaken the position on an acting basis for much of 2012. I look forward to working with Stephen again in this capacity.”
Aspen also announced that Gordon Ireland, formerly of Pricewaterhouse Coopers, has been appointed non-executive director. In addition, Ian Cormack is stepping down from the board and as chair of Aspen’s audit committee as of the annual meeting.