Chubb CFO set to retire

Departing leader will be succeeded by a former HSBC executive

Chubb CFO set to retire

Insurance News

By Ryan Smith

Chubb has announced that Philip Bancroft, executive vice president of Chubb Group and its chief financial officer, will retire from the company on July 01 after 19 years of service. Peter Enns will join the company on or before April 01 as executive vice president of finance, and will succeed Bancroft upon his retirement.

Enns has more than 30 years of finance and investment banking experience. He spent more than 20 years with Goldman Sachs in various senior roles, including as partner of its US Financial Institutions Group, head of its Asia Financial Institutions Group, and chief executive of its business operations in Canada. Most recently, Enns served as global co-head of investment banking coverage for HSBC.

At Chubb, Enns will report to Evan G. Greenberg, chairman and CEO, and will join the company’s executive committee. Bancroft is expected to remain with Chubb in an advisory capacity until the end of the year.

“On behalf of all my colleagues and our board of directors, I want to extend our deepest gratitude to Phil Bancroft,” Greenberg said. “Phil has contributed a great deal to our company’s success over his nearly 20 years. He has become a key member of the executive team that helped transform the company to become what it is today – the world’s largest publicly traded property and casualty insurer. Under his leadership, Phil has built and groomed an outstanding finance team. I wish Phil and his wife Denise much happiness in his retirement.”

Greenberg also welcomed Enns to the company.

“Peter and I have known each other for more than 15 years,” he said. “He has the right background to lead our finance organisation, with proven experience in corporate finance, investment banking, accounting, and public markets. Peter’s broad experience across financial services includes property, casualty, and life insurance as well as asset management. He is a seasoned international executive with deep knowledge and operating experience in the Asia region, including China. His character, integrity, and style are an excellent fit for the Chubb culture.”

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