The management shake-up at Italian insurance giant Generali looks set to continue if recent reports are to be believed.
Nikhil Srinivasan, the company’s chief investment officer, is to finalise terms of his resignation on Monday, according to
Financial Times sources.
Srinivasan was seen as a key figure at the insurer, having overseen more than $500 billion in investments – however, he is just the latest in a lengthy list of top names to depart since chief executive Mario Greco left the company earlier this year. In July, Carsten Schildknecht, the company’s former chief operating officer also departed.
In addition, according to the report, Srinivasan, was one of the earliest investors in Europe to predict the low interest rate environment. He joined from
Allianz where he held the role of group chief investment officer.
Since Greco left for
Zurich Insurance, shares at Generali have slumped by 15% - partly driven by concerns over the health of Italy’s financial sector in general. Meanwhile, shares in
Zurich have risen by the same percentage.
It is expected that Srinivasan will be replaced by Tim Ryan, an independent adviser who was also chief executive at AllianceBernstein.
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