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Generali Announces New Organizational Structure

The Assicurazioni Generali Board of Directors announced the
new organizational structure following by a meeting chaired by
Gabriele Galateri di Genola.

The new organizational structure is designed to address key
strategic priorities for the continued successful delivery of the
Generali 2021 plan and prepare the Group for the next strate-
gic cycle.

As part of the new, streamlined organizational structure, the
Group is promoting a number of senior Generali executives who
will report directly to the Group CEO to deliver the targets of
the Generali 2021 plan. These internal appointments demon-
strate Generali’s deep bench of internal talents and favor the
valorization of skills and competencies. current General Manager, will leave the Group on February
1st, 2021. Timothy Ryan, current Group CIO and CEO Asset
The key appointments approved by the Board of Directors are: & Wealth Management, will leave the Group on March 1st,
• Sandro Panizza takes up a newly created role, Group Chief 2021.
Insurance & Investment Officer, effective March 1st, 2021.
This new organizational unit will integrate the competencies of Generali Group CEO, Philippe Donnet, commented on the new
the Group Head Office Insurance and Reinsurance areas with organizational structure: “Since the launch of the ‘Generali
Investment Management. 2021’ plan, we have made significant progress towards our
objectives in the face of a rapidly changing world and unprec-
• Carlo Trabattoni is promoted to CEO Asset & Wealth Man- edented challenges. The purpose of our new organizational
agement, a new business unit created effective March 1st, structure is to support the Group to successfully deliver the
2021, following the re-allocation of Group investments activ- final stages of our ‘Generali 2021’ strategy and be prepared
ities. His responsibility will be to coordinate the activities of for the challenges ahead. Our goals remain unchanged: to align
the Group asset management companies and Banca Generali. investment management to insurance strategy, in order to de-
liver excellent products and services for our customers and to
• Bruno Scaroni becomes Group Chief Transformation Officer, create value for our shareholders, taking into account the in-
a newly established role, integrating responsibilities linked to terest rate environment; to accelerate the Asset Management
Strategy with Operations and the digital and technological strategy, which is instrumental to enhance the profitability of
transformation, effective February 1st, 2021. the Group; to coordinate digital and technological transforma-
tion, an essential element of our LifeTime Partner ambition.
• Giancarlo Fancel, currently Chief Financial Officer of Coun-
try Italy & Global Business Lines, takes up the role of Group I am very proud of our leadership team leveraging on internal
Chief Risk Officer, effective March 1st, 2021. resources: this is a further proof of the quality of the manage-
ment and the people of Generali and their unique set of skills.
In addition, the Group Chief Financial Officer, Cristiano Bo- The creation of the Insurance & Investment Unit puts Gener-
rean, the Group Chief Marketing & Customer Officer, Isabelle ali at the forefront of the industry establishing an integrated
Conner, and the Group Head of Mergers & Acquisitions, Massi- management of underwriting and investment capabilities. The
miliano Ottochian, will report directly to the Group CEO effec- changes already reflect our current focus and priorities and
tive February 1st, 2021. The Investor and Rating Agency rela- as such ensure full continuity and effectiveness. Frédéric de
tions will report to the Group Chief Financial Officer, effective Courtois and Tim Ryan have been instrumental in defining and
February 1st, 2021. realizing what we have achieved so far, and on behalf of the
Group I want to thank them for their contribution and wish
As a result of the new organizational structure, the General them all the best for their next ventures.”
Manager function will cease to exist. Frédéric de Courtois, the