John Pasquesi will replace Constantine “Dinos” Iordanou as Arch Capital Group Ltd.’s chairman of its board of directors in September, once Iordanou completes his term.
Iordanou joined Arch in 2002 to create its insurance segment and went on to serve as chief executive officer from August 2003 until March 2018, when current CEO Marc Grandisson assumed the role as part of a planned succession. Iordanou continued on as chairman and said at the time that he’d remain as a senior adviser.
Pasquesi is currently lead director of the board of directors and has been a member of the board and vice chairman since 2001. He’s the managing member of Otter Capital LLC, a private equity investment firm he founded in January 2001. Before Otter Capital, Pasquesi was a managing director of Hellman & Friedman LLC.
Iordanou “was instrumental in developing Arch into a highly profitable company with a worldwide insurance, reinsurance and mortgage insurance presence,” Pasquesi said in prepared remarks. “The board and I want to recognize 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.”
Pasquesi added that Arch’s CEO transition process is now complete and that he looked forward to working with the board and leadership team “to help sustain Arch’s future growth.”
Grandisson, in turn, said he is grateful having been able to work with and learn from Iordanou.
“I am grateful to have had the opportunity to learn from and work with him for nearly 20 years,” he said in prepared remarks.
Arch Capital Group Ltd. is a Bermuda-based company with approximately $11.17 billion in capital as of Dec. 31, 2018. It provides insurance, reinsurance and mortgage insurance globally through its wholly owned subsidiaries.
Source: Arch Capital Group Ltd.