New Executives Announced For St. Paul Travelers

NU Online News Service, Dec. 2, 3:05 a.m. EST?The St. Paul Companies Inc. and Travelers Property Casualty Corp., which last month disclosed plans to merge and create St. Paul Travelers, announced an in-house management shuffle for the new company today.

Eleven executives from within the two companies were given titles for their combined company.[@@]

The St. Paul Chief Executive Jay Fishman, who will become chief executive officer for the combined organization, said the proposed management team to lead the combined organization represents "the strength and depth of the management teams of each company."

The new appointments would take effect with the completion of the merger, expected during the 2004 second quarter.

Joan Palm, a spokesperson at The St. Paul, said because of the companies' extensive talent pool, "we didn't have to pick anyone from outside."

She said the makeup of top-level managers would be fairly evenly split from The St. Paul and Travelers.

Ms. Palm, when asked whether there would be top-level managers from either company who would eventually be left out from leadership positions for the combined entity, said, "Obviously, we had to make a selection of leaders." But, she added, "all the other people who are at similar leadership positions at both companies will still have significant roles in the combined company going forward."

Among the newly named top managers for St. Paul Travelers is Jay Benet, 51, who has been named executive vice president and chief financial officer. Mr. Benet has worked in this position at the Hartford, Conn.-based Travelers since its initial public offering last year.

Previously, Mr. Benet had served as chief financial officer for Citigroup's Global Consumer Europe, Middle East and Africa unit. He has also led financial planning, analysis and reporting at Citigroup.

Andy Bessette, 50, has been named executive vice president and chief administrative officer. Mr. Bessette has been working in this position with The St. Paul since January 2002.

Prior to joining the St. Paul, Minn.-based insurer, Mr. Bessette was vice president of corporate real estate and services for Travelers, where he worked for more than 20 years. He is one of the managers who came to The St. Paul after Mr. Fishman made the jump from Travelers in 2001. "[Mr. Bessette] was recruited to The St. Paul after Jay had come here," explained Ms. Palm.

Other executive appointments are as follows:

? William Bloom, 39, has been named senior vice president and chief information officer. Mr. Bloom recently joined Travelers in that capacity from Accenture, where he was a partner in the Financial Services Practice.

? Thomas A. Bradley, 46, currently executive vice president and chief financial officer for The St. Paul, will report to Jay Benet. Mr. Bradley's duties will include a range of finance-related activities, such as financial reporting for the combined company

? John Clifford, 47, has been named senior vice president of human resources. He has been H.R. senior vice president at The St. Paul since early 2002.

? Irwin Ettinger, 64, has been named vice chairman. Mr. Ettinger joined Travelers as vice chairman in June 2002.

? William Heyman, 55, has been named executive vice president and chief investment officer. Mr. Heyman was named executive vice president and chief investment officer of The St. Paul in April 2002. Mr. Heyman previously served as chairman of Citigroup Investments.

? Samuel Liss, 47, will be executive vice president of strategic development. He joined The St. Paul as executive vice president of business development last February.

? John MacColl, 55, will be vice chairman and general counsel. He has been general counsel for The St. Paul since 1999, and additionally was named vice chairman and elected to The St. Paul's board of directors in May 2002.

? Maria Olivo, 38, has been named executive vice president of financial planning and analysis and investor relations. She has served in this role at Travelers since June 2002.

? Kent Urness, 55, will continue in his role as chief executive officer for The St. Paul's international insurance operations, including The St. Paul at Lloyd's.

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New Executives Announced For St. Paul Travelers

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