The Board of Directors of Generali has approved a new organisational structure reflecting the Group’s core activities, as proposed by Group CEO Philippe Donnet. Effective June 1st, 2024, the Generali Group will operate as a diversified financial group focused on two main businesses: Insurance and Asset Management.
This restructuring aims to accelerate growth and address key business priorities more effectively, in line with the Group’s strategic plan “LifeTime Partner 24: Driving Growth.” It establishes a robust foundation for continued success and innovation, preparing the Group for the next strategic cycle.
Under the new structure, the Insurance Division, spearheaded by CEO Insurance Giulio Terzariol, will oversee operations across all geographies through a streamlined organizational model. This division will be structured into five business units and three regions, aimed at improving coordination and strategic alignment across the Group.
Generali Investments Holding (GIH), replacing the current Asset and Wealth Management Business unit, will oversee global asset management activities within the Group. GIH, led by Woody Bradford as CEO, aims to deliver world-class performance and service to clients, leveraging new investment capabilities and partnerships, including the recent acquisition of Conning and a partnership with Cathay Life.
Outside of GIH, Banca Generali, under the leadership of CEO Gian Maria Mossa, will maintain its focus on delivering comprehensive financial advisory services and wealth management solutions.
David Cis, Group Chief Operating Officer, will join the Group Management Committee to drive best-in-class service levels and operating efficiency through digitization and AI.
Generali Group CEO Philippe Donnet emphasized the Group’s evolution into an integrated insurance and asset management player, with a focus on innovation and sustainability. He highlighted the strategic opportunities arising from the Conning acquisition and the Group’s commitment to strengthening its presence in key markets through technological advancements and tailored customer offerings.
The new organisational structure, centred on insurance and asset management, is expected to accelerate the Group’s transformation and support the definition of the plan for the next strategic cycle.