Zurich has named Mike Foley as chief operating officer (COO) for Zurich North America Commercial, to take effect on Sept. 1, 2006.
Foley will be responsible for all operating matters related to Zurich North America Commercial’s businesses and functions, including delivering its earnings goals, managing the divisional performance and the operating review processes, and driving strategic initiatives. The business heads and functional leaders will report to Foley on operational matters and performance, and to Axel P. Lehmann, CEO of Zurich North America Commercial on strategic matters. Foley will also have responsibility for the Strategic Initiatives Group, Corporate Operations, Business Engineering and IT.
Foley will succeed Frank Patalano, who will retire on Dec. 31, 2006.
Foley currently heads McKinsey & Company’s North American Property/Casualty insurance practice. He joined McKinsey in 1996 and was named a principal in 2001. He holds a Master of Management from The Kellogg School of Management at Northwestern University, and a Bachelor of Science in mathematics and economics from Fairfield University.
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