Brian Duperreault, Chairman and Chief Executive Officer of ACE Limited (NYSE: ACE), today announced that Robert A. Blee, currently Chief Accounting Officer, will assume a newly-created position of Chief Compliance Officer. This new role will include responsibility for monitoring and enhancing ACE’s internal controls on a global basis, assuring compliance with the Sarbanes-Oxley Act and other new reporting and disclosure requirements.
Mr. Duperreault said: "In the wake of the many accounting and governance scandals in other industries, there is a need to place an even greater emphasis on internal control systems and to pay close attention to new disclosure and reporting requirements. It is very important for us to run all of our companies with the utmost integrity and financial transparency. By naming such a highly respected and senior executive as Robert to this new position, we are demonstrating our full commitment to addressing these issues."
Mr. Blee will retain his title and responsibilities as Chief Accounting Officer until a suitable replacement can be found.
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.