Chubb CFO Bancroft retires, with banker Enns lined up as successor
Chubb has announced the retirement of CFO Philip Bancroft in July, with former investment banker Peter Enns lined up as his successor.
Enns will join Chubb in April prior to replacing Bancroft as finance chief on his retirement. He will report to chairman and CEO Evan Greenberg.
Bancroft will stay with the company in an advisory capacity until the end of the year to support Enns.
The change is the second significant appointment announced by Chubb this week after it named insider Jeremiah Konz as chief reinsurance officer. In early December Chubb said that executive vice chairman and COO John Keogh would take on the president role alongside his COO position.
Bancroft held the top finance job at Ace from 2002 and retained the post after its purchase of Chubb and name change.
Prior to Ace he worked at PwC from 1982, becoming a partner in 1991. He was a partner-in-charge for PwC’s New York regional insurance group from 1996 to 2001.
Enns started his career at Goldman Sachs, where he worked for around two decades in various senior roles including as a partner in its US financial institutions group in New York, head of its Asia financial institutions group in Hong Kong and finally as Canada chief executive.
He worked at HSBC between 2018 and 2020, most recently as its global co-head of investment banking coverage based in Hong Kong.
Greenberg said Enns 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."