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

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

In a statement, the Zurich, Switzerland-based insurer says Ackermann, a citizen of Switzerland, will retire from his position as chairman of the management board of Deutsche Bank by the end of May. During this short transition period the vice chairman shall administer the board business.

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