Zurich To Expand in Australia and New Zealand

November 22, 2000

Zurich Financial Services plans “a substantial expansion of its financial services capabilities in Australia and New Zealand.” In conjunction with two local companies, the Anglo-Suisse giant plans to significantly increase the size and scope of its operations with the opening of an office in Sydney.

The branch will be a new operations center for Zurich Capital Markets, which plans to develop a full range of services. “We intend to offer products to clients in Australia and New Zealand that are not available in their marketplace and to use the staff there to generate products which will be delivered to the rest of the globe,” stated Steven Gluckstern, CEO of Zurich’s Global Asset Business.

“ZCM will work in close coordination with insurance, reinsurance and other business units to offer clients a total risk solution approach,” Gluckstern continued.

Zurich chose Sydney as an expansion location because it provides “a growing and significant financial center” that “offers a pool of talent and business opportunities that are second to none,” according to Malcolm Jones, Zurich CEO of the Asia/Pacific region.

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