Zurich creates new Mergers and Acquisitions unit
Zurich,– Zurich Financial Services Group (Zurich) announced today that it has created a new Mergers & Acquisitions (M&A) unit to analyze needs and offer customized solutions for customers going through a merger or acquisition. The unit is already fully operational in the U.S. and will have worldwide capabilities through offices in London and Zurich by the fourth quarter of this year.
Thomas L. Gamble has been named president of the M&A unit. He joins Zurich with an extensive industry background, most recently as an executive vice president at Arch Insurance Group. He will report to Mario Vitale, CEO, Zurich Global Corporate in North America and will be based in New York City.
Geoff Riddell, CEO of Zurich Global Corporate, said: “Zurich’s ability to offer rapid, integrated risk management solutions addresses our customers’ increasing needs in this fast-paced, changing world of M&A and private equity transactions.”
The risk services offered by Zurich’s M&A experts and product specialists are enhanced by a truly global network, an extensive product breadth and a commitment to customer relationship management allowing Zurich to both deliver relevant risk insights for every step in the M&A transaction and provide customers with answers to risk issues which may otherwise hinder deal completion.
Mario Vitale, CEO, Zurich Global Corporate in North America said: “With the creation of the unit, Zurich is the only insurer to offer a fully integrated and fully dedicated team of professionals with expertise in a broad range of insurance products and all aspects of the M&A process.”
The total value of M&A deals in 2006 reached an all-time high of approximately USD 4 trillion and compared with last year is up over 25 percent to USD 3.1 trillion year to date. With M&A activity likely to continue at a rapid pace this year and beyond, Zurich is committed to capturing a significant share of the insurance activity related to this important market.
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