Mr. Mear, 61, who has served as General Counsel of ACE since 1996, plans to retire in the third quarter of this year to his ranch in Texas and develop a legal consulting practice. Until his retirement, he will work on various matters including supporting Mr. Cusumano in his transition at ACE and assisting with the further development of the company's Global Ethics & Compliance Office.
Mr. Cusumano, 48, has been a Litigation Partner and head of the Insurance Litigation Practice in the New York office of the international law firm Debevoise & Plimpton LLP. He is a graduate of Harvard College and the University of Pennsylvania Law School.
"I am delighted that Bob Cusumano is joining ACE," said Evan Greenberg, President & Chief Executive Officer of ACE Limited. "Bob brings a wealth of experience and knowledge to the general counsel role. He has more than 20 years of experience in insurance litigation, a long-time association with ACE as outside counsel, and a deep knowledge of major industry issues. Bob is a valuable addition to our senior management team.
"On behalf of the entire management team, I want to thank Peter for his considerable contribution to ACE," said Mr. Greenberg. "He has been involved in the planning and execution of each of the transforming events that have made ACE the leader it is today. We will miss his calm wisdom and counsel, and the effective diplomacy he employed inside and outside the company as we have built our global franchise."
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in approximately 50 countries. Additional information can be found at: http://www.acelimited.com.
Contact:
ACE Limited, Hamilton
Investor Contact:
Helen M. Wilson, 441-299-9283
helen.wilson@ace.bm
or
Media Contact:
Robert T. Grieves, 212-621-8684
robert.grieves@ace-ina.com