PWC's Philip Bancroft Named ACE CFO
NU Online News Service, Jan. 2, 12:20 p.m. EST? ACE Ltd. of Hamilton, Bermuda announced today that, effective immediately, Philip V. Bancroft, formerly of PricewaterhouseCoopers, will be the firm's new chief financial officer.
Mr. Bancroft will be based in Bermuda and will report directly to Brian Duperreault, chairman and chief executive officer of ACE Ltd.
Mr. Bancroft was the PricewaterhouseCoopers partner in charge of the New York Regional Insurance Practice, leading a team of approximately 200 partners and staff. Mr. Bancroft has been a PricewaterhouseCoopers partner for the past 10 years, working in their New York, Philadelphia and Harrisburg offices.
The opening for a new ACE CFO was created last year. It was announced then that after a successor had been named, Christopher Marshall, who held the CFO job since 1992, would move to the newly-created position of executive assistant to the chairman with a focus on strategic initiatives.
In his new role, the company said Mr. Marshall will be responsible for special projects designated by the chairman, including mergers and acquisition activity and other corporate initiatives.
The ACE group of companies provides insurance and reinsurance with operating subsidiaries in nearly 50 countries.
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