Generali Group’s Board of Directors, under the leadership of Andrea Sironi, has given the green light to a new organizational framework proposed by CEO Philippe Donnet. This restructuring, set to take effect on June 1st, 2024, will see the company operate as a diversified financial group focused on two core businesses – Insurance and Asset Management.
The revamped structure aims to fuel growth and address key business priorities more efficiently, in line with the Group’s strategic plan “LifeTime Partner 24: Driving Growth.” The Insurance Division, steered by CEO Giulio Terzariol, will lead business performance across different regions, fostering coordination, strategic alignment, and closer market proximity through a simplified organizational model.
Under the new setup, the Insurance Division will be comprised of five business units – Italy, France & Global Business Activities, Germany, Austria, Switzerland, and three Regions including Mediterranean & Latin America, Central Eastern Europe, and Asia. All units will directly report to Terzariol, while Jaime Anchústegui assumes the role of Deputy CEO Insurance to oversee various global insurance projects.
Generali Investments Holding (GIH) will replace the current Asset and Wealth Management Business unit, managing global asset management activities. GIH will focus on expanding investment capabilities by leveraging recent acquisitions and partnerships, appointing Woody Bradford as CEO and Donnet as Chair.
The Group’s Head Office will continue to drive the overarching strategy, while David Cis, the Group Chief Operating Officer, joins the Management Committee to enhance service levels and operational efficiency through digitalization and AI.
Donnet emphasized the Group’s evolution into a global integrated insurance and asset management player, highlighting recent acquisitions and partnerships that position Generali as one of Europe’s top-ten asset managers. The revamped organizational structure is set to accelerate the Group’s transformation, supporting the definition of future strategic plans.
