(Bloomberg) – W.R. Berkley Corp., the Greenwich, Connecticut-based commercial insurer, named former Morgan Stanley investment banker Jared Abbey as senior vice president for corporate strategy and development.
Abbey previously worked as a banker focusing on mergers and acquisitions, corporate restructurings and capital-raising in the insurance industry, W.R. Berkley said Thursday in a statement.
Insurers have been bringing on bankers and money managers from Wall Street in recent years to help them contend with regulatory challenges and pressure from low interest rates on investment portfolios. Lincoln National Corp. hired Goldman Sachs Group Inc.'s Ellen Cooper in 2012 as chief investment officer, and New York Life Insurance Co. named Barclays Plc's Saad Khalil as head of M&A in 2015.
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