Spiro Is Elected CFO of Chubb

September 9, 2008

Richard G. Spiro has been named to the position of executive vice president and chief financial officer of The Chubb Corporation.

Spiro, 44, will join Chubb as executive vice president on Oct. 1 and will assume the CFO position in early November, following the filing of Chubb’s Form 10-Q for the third quarter of 2008. He will succeed Michael O’Reilly, vice chairman and CFO, whose retirement was announced previously. O’Reilly, who served 39 years at Chubb, will remain at company until the end of 2008 to assist in the transition.

Spiro joins Chubb from Citigroup Global Markets Inc., where he was a managing director in its financial institutions investment banking group. He held a variety of positions in Citigroup’s financial institutions group, including head of North America, global head of insurance investment banking and co-head of the insurance, asset management, exchanges and processors group.

Specializing in advising insurance companies for more than 20 years, Spiro has been involved in numerous initial public offerings; equity, debt and hybrid financings; and mergers and acquisitions. He began his investment banking career at The First Boston Corporation in 1986 and joined Citigroup in 1999. Prior to joining Citigroup, he was a managing director at Lehman Brothers.

Source: Chubb Group of Insurance Companies

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