St. Paul, Travelers Announce Execs for Combined Company

The St. Paul Cos. Inc. and Travelers Property Casualty Corp. announced several appointments for the combined organization, to be known as the St. Paul Travelers Cos. The following appointments will become effective with the completion of the merger, which is anticipated to close during the second quarter of 2004.

St. Paul Chairman and CEO Jay S. Fishman will serve as CEO of the new entity, while Travelers Chairman and CEO Robert I. Lipp will be the chairman.

Jay S. Benet, 51, has been named executive vice president and chief financial officer. Benet has served in this position at Travelers since its initial public offering in 2002. His previous experience includes serving as worldwide leader of financial planning, analysis and reporting at Citigroup and chief financial officer for Citigroup’s Global Consumer Europe, Middle East and Africa unit. Prior to that, he served 10 years in various executive positions with Travelers Life & Annuity and was a partner of Coopers & Lybrand (now PricewaterhouseCoopers).

Andy F. Bessette, 50, has been named executive vice president and chief administrative officer. Bessette has been with St. Paul since January 2002 where he serves in this capacity. Prior to joining St. Paul, he was vice president of corporate real estate and services for Travelers. During his more than 20 years at Travelers, Bessette held a number of management positions. He began his career at The Sheraton Corporation in 1977.

William A. Bloom, 39, has been named senior vice president and chief information officer. Bloom recently joined Travelers in that position from Accenture, where he was a partner in the financial services practice. Previously, he served as vice president at Hartford Life, responsible for national accounts in the employee benefits division.

On Nov. 17, The St. Paul and Travelers announced a definitive merger agreement that will create the nation’s second largest commercial insurer, to be known as the St. Paul Travelers Companies. The combined company will be a leading provider of property and casualty insurance products distributed through independent agents and brokers and one of the largest financial services companies in the United States.