Chubb replaces outgoing CFO with investment banking veteran Enns

Property/casualty insurer Chubb's chief financial officer Philip Bancroft has revealed his plans to retire on July 1 after 19 years with the company. He will be replaced by investment banking veteran Peter Enns.

Enns has agreed to join the company on or before April 1 as executive vice president, finance, Chubb Group.

He has more than 30 years of finance and investment banking experience, having spent over 20 years with Goldman Sachs in various senior roles, including partner of the firm's US Financial Institutions Group based in New York, head of its Asia Financial Institutions Group based in Hong Kong, and chief executive of its business operations in Canada. More recently, Enns held a number of roles with HSBC, including his last assignment as global co-head of investment banking coverage based in Hong Kong.

Enns will report to Chubb Group CEO Evan Greenberg, and join the company's executive committee.

Meanwhile, Bancroft is expected to remain with the company in an advisory capacity for the balance of the year.

"On behalf of all my colleagues and our Board of Directors, I want to extend our deepest gratitude to Phil Bancroft. Phil has contributed a great deal to our company's success over his nearly 20 years," said Greenberg. "He has been a key member of the executive team that helped transform the company to become what it is today, the world's largest publicly traded property and casualty insurer. Under his leadership, Phil has built and groomed an outstanding finance team. I wish Phil and his wife Denise much happiness in his retirement."

He added: "I am delighted to welcome Peter Enns to Chubb. Peter and I have known each other for more than 15 years. He has the right background to lead our finance organization, with proven experience in corporate finance, investment banking, accounting and public markets.

"Peter's broad experience across financial services includes property, casualty and life insurance as well as asset management. He is a seasoned international executive with deep knowledge and operating experience in the Asia region, including China. His character, integrity and style are an excellent fit for the Chubb culture."