Generali revamps organizational structure

The board of Assicurazioni Generali SpA approved CEO Philippe Donnet's proposal for a new organizational structure, which will integrate group investment management and insurance domains.

The shake-up will see Sandro Panizza take up a newly created role of group chief insurance and investment officer, while Giancarlo Fancel, currently CFO of Italy and global business lines, will become group chief risk officer. Carlo Trabattoni will become CEO of asset and wealth management, a newly created business unit.

The appointments will be effective March 1.

Additionally, Bruno Scaroni will move to the newly created role of group chief transformation officer, effective Feb. 1.

General Manager Frédéric de Courtois will depart the Italian insurer Feb. 1, as the group eliminated the general manager function.

Meanwhile, Timothy Ryan voluntarily resigned as group chief information officer and CEO of asset and wealth management, effective March 1.