Michael O’Reilly, executive vice president and chief investment officer of The Chubb Corp., Warren, N.J., has been named to the additional position of interim chief financial officer, the company said in a statement on Thursday, Sept. 26.
O’Reilly succeeds Weston M. Hicks, who resigned as Chubb CFO, effective October 4, to accept a position as Executive Vice President of Alleghany Corp. In his new position, Hicks will have overall supervision of Alleghany’s insurance holdings and investment portfolio.
“Chubb is a first-class company in all respects,” said Hicks, “and I have enjoyed working there. But I wanted to take advantage of this once-in-a-lifetime opportunity to move to a senior leadership position closely related to the world of investing, in which I have spent most of my career.”
“Weston has been a great asset to Chubb,” said Dean R. O’Hare, chairman and CEO of Chubb. “We are sorry to see him leave, and we wish him the best in his exciting new venture.
O’Reilly, 59, joined Chubb’s financial department in 1969. In 1988, he became chief investment officer and in 1997 a member of Chubb’s policy team. O’Reilly received a B.S. in finance from New York University in 1965 and an M.B.A. from Pace University in 1971.
As previously announced, O’Hare said he intends to retire no later than December 31, and the Board of Directors’ search committee expects to name a new CEO before then. It is expected that O’Reilly will serve as interim CFO until Chubb’s new CEO takes office and a new CFO is selected.