17 November 2017Insurance

Verisk appoints ex-Nasdaq CFO following departure

Verisk Analytics, a provider of property/casualty insurance risk information, has appointed Lee Shavel as executive vice president and chief financial officer (CFO).

The current CFO Eva Huston will pursue opportunities outside Verisk following a three-month period transitioning responsibilities to Shavel, the company said.

Shavel most recently served as executive vice president and chief financial officer of Nasdaq from 2011 to 2016. Before that, he served as managing director and Americas head of Financial Institutions Investment Banking and in other capacities at Bank of America Merrill Lynch from 1993 to 2011. He also currently serves as a board director and chairman of the Audit Committee of Investment Technology Group.

"When we learned that Lee was available to join the Verisk team, we jumped at the opportunity," said Scott Stephenson, chairman, president, and chief executive officer. "His broad financial and operational experience and success as both a public company CFO and banker to financial and technology companies will complement our superb finance team. Bringing new perspectives and talents to complement the existing leadership team has always been a part of our winning formula at Verisk.

"Lee is joining Verisk at an opportune time," Stephenson added. "Our business has momentum in the fourth quarter of 2017 and into 2018, with all segments of our business gaining strength through innovation.

"Eva has been a strong contributor to Verisk's success since the IPO in 2009, serving as chief financial officer, head of Investor Relations, and treasurer. We appreciate her efforts and many accomplishments and look forward to a smooth transition."

Shavel commented: "I am thrilled to be joining Verisk and look forward to working with Scott and his team to support employees, extend the strong growth of the business, and deliver great returns to shareholders. Verisk has been a leader and innovator in the data analytics sector, generating exceptional growth as demand for its products and services has expanded rapidly. I'm excited to bring my experience to enhance the financial and operating performance of the company and support this exceptional management team.”

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More on this story

12 January 2018   Verisk, the data analytics provider, has launched a new personal lines flood insurance programme, which is designed to make flood coverage more widely available to homeowners anywhere in the contiguous US.
16 February 2018   Data analytics provider Verisk's business Geomni has enhanced its drone service for properties with the launch of its new mobile app for ground imagery and unmanned aerial vehicle (UAV) inspections.
25 May 2022   The company has also appointed three new independent directors to its board.