Aspen Insurance Holdings Limited (“Aspen” or “the Company”) (NYSE: AHL) is announcing today some directorate and management changes.
Julian Cusack has decided that after over ten years with Aspen, it is the right time for him to step down as Chief Risk Officer. This is effective immediately and he will also be stepping down from the Board at the Company’s Annual General Meeting on April 24, 2013. Julian is a co-founder of Aspen and has held a number of positions within the Company, including as Chief Financial Officer, Chairman of Aspen Bermuda Limited (“ABL”) and most recently as Chief Risk Officer. Julian, who has been a Director since 2002, will remain with the Company with responsibility for strategic projects and as Chairman of ABL.
Stephen Postlewhite, currently Aspen’s Head of Risk, will be taking over from Julian as Chief Risk Officer. Stephen has been with the Company since 2003 and was acting Chief Risk Officer from February to October 2012 while Julian assumed the role of acting Chief Financial Officer during Aspen’s search for a permanent CFO.
Chris O’Kane, Aspen’s Chief Executive Officer, said: “Julian has been an invaluable member of our Executive Management team for the past decade and no one has done more to ensure that our capital and risk management framework has remained robust and resilient, particularly during prolonged periods of economic and market uncertainty. He has made an enormous contribution to Aspen’s growth and development and we are delighted that he is staying with us and retaining responsibility for strategic projects and as Chairman of ABL.”
He continued: “We are very fortunate to have in Stephen Postlewhite someone with a wealth of experience who will be able to step into Julian’s role seamlessly, having undertaken the position on an acting basis for much of 2012. I look forward to working with Stephen again in this capacity.”