Italian insurer Generali has appointed Francesco Martorana as the new chief executive officer of its asset management arm Generali Insurance Asset Management SpA (GIAM).
Martorana replaces Santo Borsellino, who held the CEO position since June 2013. Borsellino has been moved to become the chairman of the board of GIAM.
Borsellino has also been appointed head of investments and asset management corporate governance implementation & institutional relations. He will be responsible for managing the relations with external institutions, associations and regulatory bodies, and assuring effective implementation of the governance set-up of the business unit Generali Investments, Asset & Wealth Management.
Meanwhile, Martorana will retain his current position of head of investments at GIAM on an interim basis.
He joined the Generali Group in November 2013 as the head of group asset liability management & strategic asset allocation (ALM/SAA) for the general account assets. Prior to that, he held several management positions at Allianz Group in Italy and Germany.
