The Travelers Companies announced that, effective Sept. 1, Jay S. Benet will step down from his role as chief financial officer, a position he has held since 2002. Benet will remain on the senior leadership team as vice chairman.
Daniel S. Frey will succeed Benet and become executive vice president and chief financial officer, effective Sept. 1. Frey currently serves as chief financial officer of the company’s Personal Insurance segment. He has served in a number of other key financial management roles across Travelers over the past 15 years.
As vice chairman, Benet will support the transition to Frey for a period of time and then assume a variety of responsibilities, including serving as a strategic advisor to the senior leadership team, according to the announcement.
Chairman and Chief Executive Officer Alan Schnitzer paid tribute to Benet. “Every milestone in the modern life of this company bears Jay Benet’s mark,” Schnitzer said. “His advice was indispensable to my predecessor Jay Fishman for over a decade, and he has been a key partner, mentor and friend to me for more than 10 years. I am deeply grateful for all that he has contributed to this company, and we are fortunate that he will continue to serve as a member of the senior leadership team.”
Frey brings to his new role more than three decades of finance and accounting experience. Prior to his current role, Frey served as chief financial officer of the company’s Claim and Field Management organizations. Before joining Travelers, he served as CFO of Spalding Sports Worldwide. He began his career in public accounting at Deloitte & Touche.
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