(Bloomberg) — James Schiro, who led Zurich Financial Services AG through the credit crisis and became Goldman Sachs Group Inc.'s lead independent director, has died. He was 68.
He died on Aug. 13, according to an e-mail sent today to employees of New York-based Goldman Sachs by Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn. Schiro died of multiple myeloma, a form of cancer, at his home in Princeton, New Jersey.
In 2002, Schiro became CEO of Zurich Financial Services, which had been the worst-performing European insurance stock the previous year. Under his leadership, the company returned to profitability, and Barron's magazine included him in its Top CEO list in 2008 and 2009. The company, Switzerland's biggest insurer, changed its name to Zurich Insurance Group AG in 2012.
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