Changing of the guard at Zurich
The New Year will see David Smith become chief executive of Zurich Financial Services Australia following the announcement that Tom Brown will be retiring from the position on December 31, 2006, effectively ending his 35-year involvement in financial services.
Brown has occupied the role since July 2004.
Under his stewardship Zurich delivered record operating results due mainly to rationalisation strategies implemented by Brown, including the disposal of non-strategic subsidiaries, coupled with cost reduction moves.
“I am immensely proud of the Zurich Australia team and what they have delivered at a time when we were facing a number of challenges. They have achieved all that I had hoped.
“I am leaving the company in the capable hands of David Smith, who I know will continue to focus on profitable growth,” Brown said.
Smith will switch to the chief executive role from his current position of chief operating officer with Zurich Australia, which he took up in May when he left IAG New Zealand.
Before joining IAG, Smith held several positions with Westpac. His most recent role at the bank was regional general manager — Queensland Retail Banking.
He has also been president of the Insurance Council of New Zealand for the past two years.
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