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Frank A. Schmid is the new Head of AIG’s Group Benefits business and of the Disability Product Center of Excellence, GBV learned in December 2015. Frank holds a PhD in economics and a post-doc in finance from the University of Lüneburg, Germany. Dr. Schmid published numerous scholarly papers in finance and economics and was affiliated with the University of Pennsylvania, the University of Vienna, Free University of Berlin, CERGE-EI
In a major restructuring effort, financially challenged Zurich Group in December 2015 said it will eliminate or move as many as 1,800 jobs, and announced the resignation of CEO Martin Senn. Tom de Swaan, the Chairman of the Board of Directors since 2013, has been appointed CEO ad interim. Zurich cited the August explosions at the port in Tianjin, China, and a poorly performing U.S. auto book of business