Zurich Financial Services announced that the Board of Directors will propose to the 2008 Annual General Meeting of shareholders on April 3 the election of “Dr. Susan Bies (age 60, US Citizen) and Victor L.L. Chu (age 50, British Citizen) to the Board of Directors.”
Dr. Bies is a member of the Securities and Exchange Commission’s advisory committee on improving financial reporting, and chairman of its substantive complexity sub-committee. From 2001 until 2007 she served as a member of the Board of Governors of the Federal Reserve System. Prior to that, she was a member of the Emerging Issues Task Force of the Financial Accounting Standards Board from 1996 until 2001. In 1979 she joined First Tennessee National Corporation in Memphis where she held various senior leadership positions, among others, in finance and risk management until 2001. Dr. Bies began her professional career as a regional and banking structure economist and as an assistant professor of economics.
Chu has been chairman of First Eastern Investment Group since 1988. He is also chairman of First Eastern Investment Bank Limited and FE Securities Limited. Furthermore, over the past 20 years he has served at various times as director and council member of the Hong Kong Stock Exchange, a member of the Hong Kong Takeovers and Mergers Panel, a member of the Hong Kong Securities and Futures Commission’s advisory committee, and a part-time member of the Hong Kong Government’s Central Policy Unit. In addition he is an executive board member of the International Chamber of Commerce, for which he chairs the Commission on Financial Services and Insurance. Besides that he was and still is active in a number of other professional, international and civic organizations.
Manfred Gentz, Chairman of the Board of Directors of Zurich, commented: “My colleagues and I are delighted to propose that Susan Bies and Victor L.L. Chu be added to the Zurich Board. Their wide-ranging experience in the private and public sector are bound to add a welcome and diverse expertise to our Board.”
Source: Zurich – www.zurich.com
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