Brandon to succeed Hicks as Alleghany CEO
Reprints
Weston Hicks will retire as president and CEO of Alleghany Corp. at the end of this year and be succeeded by Joseph P. Brandon, who is currently executive vice president of the insurance and reinsurance holding company.
Mr. Brandon, who was chairman and CEO of General Re Corp. from 2001 to 2008 and joined Alleghany in 2012, will be succeeded by Kerry J. Jacobs, chief financial officer of Alleghany. Ms. Jacobs, who joined the company in 2014, will continue as CFO until a successor is named, an Alleghany statement said.
Mr. Hicks, 64, joined Alleghany from Chubb Corp. in 2002 as executive vice president and was named president and CEO in 2004. Before moving into insurance company management, he was a leading Wall Street analyst.
Alleghany units include reinsurer Transatlantic Holdings Inc., which it bought after a protracted bidding war in 2012; RSUI Group Inc., a surplus lines underwriter it bought in 2003; and CapSpecialty Inc., a specialty insurer it bought in 2002. Another subsidiary, Alleghany Capital Corp., manages a portfolio of industrial and other noninsurance companies.
