March 4th, 2014

Guy Carpenter Makes Senior Promotions

Posted at 11:30 PM ET

Guy Carpenter  today announced that Massimo Reina has been promoted to the position of CEO of Continental Europe and MENA, with immediate effect. He succeeds Peter Stubbings, who has taken up the position of Chairman of the firm’s Bermuda operations.

Formerly Head of GC Fac® International and the firm’s Italian business, Mr. Reina is now responsible for all of Guy Carpenter’s treaty and facultative operations in Continental Europe and the MENA region. He will report to Nick Frankland, CEO of EMEA Operations.

Commenting on Mr. Reina’s promotion, Mr. Frankland said: “We are extremely fortunate to have such breadth and depth of talent across the Guy Carpenter team. I am delighted to be announcing that Massimo has taken up the position of CEO of Continental Europe and MENA. In recent years, he has achieved considerable success heading up our GC Fac® and Italian operations and we look forward to seeing him achieve similar success on a wider platform in his new role.”

In his new position as Chairman of Guy Carpenter’s Bermuda operations, Mr. Stubbings will be responsible for the International and Retro business conducted on the island. He will work alongside Tony Fox, who has been appointed head of the Bermuda office and promoted to the position of Bermuda CEO. They both report to Kevin Fisher, CEO of Global Specialties, who is relocating from Bermuda to the firm’s London office in April.

Mr. Fisher commented: “We are delighted with Peter’s move to the island, where his experience in the London and International markets will complement Tony’s local Bermudian presence and US relationships. We expect the combination of the two to consolidate our position as the island’s leading reinsurance broker.”

Guy Carpenter also announced that Malcolm Payton has been promoted to Head of GC Fac®, London, having previously overseen the International Property division. In addition, Salvatore Nicosia has been promoted to Head of Italy. They will both report to Mr. Reina.

Mr. Frankland added: “It is extremely gratifying to be announcing the promotions of two such experienced and talented members of our team.  Malcolm has played a key role in the growth of GC Fac®, while Salvatore has helped us build a leading position in the Italian market. Both are fully deserving of their promotions.”

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