Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that its shareholders have elected Eric S. Schwartz to the company’s Board of Directors. Mr. Schwartz was elected at a special shareholder meeting to serve a term expiring at the company's annual shareholder meeting to be held in May 2014.
Mr. Schwartz is the founder and has been Chief Executive Officer of 76 West Holdings, a private investment company, since June 2008. In support of the activities of 76 West, he has served as Chairman of Jefferson National Financial Corp., an insurance company focused on the variable annuity market, since January 2012; as Chairman of Gold Bullion International LLC, a precious metals dealer, since January 2012; as a director of Indostar Capital Finance, a finance company based in India, since April 2011; and as a director of Binary Event Network, an electronic prediction marketplace, since May 2011. He also served as Chairman-elect of Nikko Asset Management from June 2008 until its sale in June 2009; and as a director of Prosper Marketplace, an internet-based consumer lending company, from March 2012 until January 2013. Mr. Schwartz is a former Co-CEO of Goldman Sachs Asset Management. He joined The Goldman Sachs Group, Inc. (“Goldman Sachs”) in 1984 and served in various leadership positions at the firm during his tenure at Goldman Sachs. In 1994, he became a partner in the Equity Capital Markets unit of Goldman Sachs’ Investment Banking Division and later served as Co-Head of both its Global Equities and Investment Management Divisions. He joined Goldman Sachs’ Management Committee in 2001 and was named Co-Head of its Partnership Committee in 2005. In June 2007, he retired from Goldman Sachs.
Allied World’s President and Chief Executive Officer Scott Carmilani commented, “Eric is a great addition to our Board. His comprehensive experience in corporate finance and investment matters and his international business background will be a tremendous asset. I look forward to working with our Board to continue to grow Allied World’s business globally and build value for our shareholders.”