On Tuesday, Gen Re announced several planned organizational changes at GR–NEAM prompted by Gerard (Jerry) Lynch’s announcement that he will be retiring Dec. 31, 2014. Effective immediately:
- GR–NEAM’s current President, William (Bill) Rotatori, is being promoted to Chief Executive Officer
- Chip Clark has been appointed President
- Lynch will remain Chairman until his retirement, at which point he will become Non-Executive Chairman of GR–NEAM.
Lynch has been GR–NEAM’s Chairman and CEO since founding New England Asset Management (NEAM) in 1984.
In a statement about the changes, Tad Montross, Chairman, CEO and President of Gen Re, called Lynch “a class act,” noting that Lynch founded NEAM in 1984, and that unaffiliated assets under management have soared from $9.4 billion, when Gen Re bought NEAM in 1995, to $63 billion. The insurance company client base more than doubled to 100 from 45 clients back then, Montross said. The investment acumen of Lynch and his team, together with a superb technology platform and efficient investment accounting services have driven their success, Montross said in Tuesday’s statement.
Source: Gen Re