NU Online News Service, March 14, 10:51 a.m.EDT

Zurich Financial Services Group says its board plans to nameJosef Ackermann as chairman and Tom de Swaan as vice chairman afterits annual general meeting on March 29.

In a statement, the Zurich, Switzerland-basedinsurer says Ackermann, a citizen of Switzerland, will retire fromhis position as chairman of the management board of Deutsche Bankby the end of May. During this short transition period the vicechairman shall administer the board business.

Ackermann, 64, joined Schweizerische Kreditanstalt in 1977. Hewas named the firm's president in 1993.

In 1996, he joined the management board of Deutsche Bank, wherehe was responsible for the investment-banking division. In 2002, hebecame spokesman of the management board and chairman of the groupexecutive committee. In 2006, he was appointed chairman of themanagement board.

Ackermann is a member of the supervisory board of Siemens AG(second deputy chairman), Germany; a non-executive member of theboard of directors of Royal Dutch Shell plc, the Netherlands; andvice-chairman of the board of directors of Belenos Clean PowerHolding Ltd, Biel, Switzerland.

Among other accomplishments, he is a visiting professor infinance at the London School of Economics and honorary professor atthe Johann Wolfgang Goethe University Frankfurt, Germany.

Tom de Swaan, 66, has been a member of the boards of ZurichFinancial Services Ltd. and of Zurich Insurance Co. Ltd. since2006. Since 2010 he has been a member of the board of ZurichInsurance plc and Zurich Life Assurance plc and also chairs theaudit committees of those boards.

De Swaan, a Dutch citizen, joined De Nederlandsche Bank N.V. in1972, and from 1986 until 1998 was a member of the governing board.In 1999, he became a member of the managing board and chieffinancial officer of ABN AMRO Bank, retiring in 2006, but continuedas an advisor to the managing board until 2007.

He is active on a number of corporate boards and philanthropicorganizations.