Philip Bancroft, Chubb
15 January 2021Life

Bancroft to retire from Chubb, Enns lined up as replacement

Philip Bancroft, Chubb Group’s chief financial officer, will retire from the company on July 1, 2021, after 19 years of service.

Chubb has hired Peter Enns as executive vice president for finance, who is being lined up as his long term replacement. Enns will join Chubb on April 1 and succeed Bancroft upon his retirement.

Enns has more than 30 years of finance and investment banking experience, having spent over 20 years with Goldman Sachs in various senior roles. He has served as a partner in Goldman’s US financial institutions group in New York, head of its Asia financial institutions group in Hong Kong and chief executive of its business operations in Canada.

More recently he held a number of roles at HSBC, including most recently serving as global co-head of investment banking coverage, based in Hong Kong.

Enns will report to Evan Greenberg, Chubb’s chairman and chief executive officer, and will join its executive committee.

Bancroft is expected to remain with Chubb in an advisory capacity for the rest of the year and be available to support Enns.

Greenberg called Bancroft “a key member of the executive team that helped transform the company to become what it is today, the world's largest publicly traded property and casualty insurer.”

He welcomed Enns to Chubb, noting the two have known each other for more than 15 years.  “He has the right background to lead our finance organisation, with proven experience in corporate finance, investment banking, accounting and public markets,” he added.