Aviva CFO Pat Regan To Step Down To Join QBE Insurance As Finance Chief

(RTTNews) - Aviva Plc. (AV, AV.L) Thursday said Pat Regan, its Chief Financial Officer, would leave the group in June to join Australian insurer QBE Insurance Group Ltd. (QBE.AX, QBEIF.PK) as its Chief Financial Officer based in Sydney.

Regan joined Aviva in February 2010 as CFO and was appointed to the Board as an Executive Director. Since April 2012, he has assumed responsibility for Aviva USA. He is chairman of Aviva Investors and is currently a member of the supervisory board of Delta Lloyd N.V.

Mark Wilson, Aviva's CEO, said, "After a successful career at Aviva, Pat has decided to take a new role outside the Group. Pat has been a tremendous support in assisting me with Aviva's financial transformation. I am supportive of his decision, and he leaves with my best wishes and those of Aviva's Board."

According to the company, arrangements for the search of a CFO are in progress and further announcements would be made in due course. Aviva said it is committed to appointing a first class CFO commensurate with the standing of the group.

Meanwhile, QBE said in a separate release that Regan would join the company in June in the role of Group Chief Financial Officer, succeeding Neil Drabsch.

QBE said Regan is an experienced leader in the insurance and financial industries. Before joining Aviva, he was Group Chief Operating Officer and Chief Financial Officer at Willis Group Holdings from 2006 to 2010, and served as Group Financial Controller of Royal & Sun Alliance from 2004 to 2006.

From 2001 to 2004, Regan was AXA SA's Finance and Claims Director for the UK General Insurance business. He has also held senior positions at GE Capital Bank, GE Global Consumer Finance and Grant Thornton.

AV.L is down 0.3 percent in early morning trade at 476.00 pence.

QBE.AX closed marginally lower on the day at A$11.71.