SAINT PAUL, Minn.--(BUSINESS WIRE)--
The Travelers Companies, Inc. ("Travelers,")(NYSE:TRV) today
announced that Alan D. Schnitzer will join the company in the newly
created position of vice chairman and chief legal officer, effective
April 23, 2007. Mr. Schnitzer will oversee the company's legal
function and public policy and government affairs function. In
addition, he will work closely with other members of the company's
senior leadership team on a wide range of business and strategic
matters and serve on the company's Management Committee. He will
report to Chairman and Chief Executive Officer Jay S. Fishman.
Mr. Schnitzer, who has served as Travelers' lead outside counsel
for a number of years, joins the company from the law firm of Simpson
Thacher & Bartlett LLP, where he is a partner advising corporate
clients on a variety of transactions and general corporate law
matters. He joined Simpson Thacher in 1991.
Kenneth F. Spence III, Travelers' executive vice president and
general counsel since 2004, will continue in that role, reporting to
Mr. Schnitzer.
Mr. Fishman said, "We are delighted to have attracted Alan to our
management team. Having worked closely with him for many years, we
have first-hand knowledge of Alan's exceptional judgment, talent and
insight. He knows our company well and brings great energy that will
be invaluable to us.
"Ken Spence has done a terrific job as our general counsel, and we
look forward to his continued contributions in that important
position."
Mr. Schnitzer said, "I am pleased to join such an exceptional
management team in a world-class organization. I am grateful to my
partners at Simpson Thacher for their support and tremendously proud
to have been part of the firm for the past fifteen years. I look
forward to continuing a close relationship."
Mr. Schnitzer, 41, is a member of the Board of Directors of The
Legal Aid Society, the nation's oldest and largest provider of legal
services to the indigent. He received his undergraduate degree from
The Wharton School of the University of Pennsylvania, magna cum laude,
and earned his J.D. from Columbia Law School, where he was a Harlan
Fiske Stone Scholar.
About Travelers
Travelers is a leading property casualty insurer selling primarily
through independent agents and brokers. The company's diverse business
lines offer its global customers a wide range of coverage in both the
personal and commercial settings, including automobile, homeowners,
construction, small business, oil and gas, ocean marine, financial and
professional services, global technology and public sector services.
Travelers is a Fortune 100 company, with 2006 revenues of $25.09
billion and total assets of $113.76 billion. The company has
approximately 33,000 employees. For more information, visit
www.travelers.com.
Source: The Travelers Companies, Inc.
Contact: The Travelers Companies, Inc.
Media:
Shane Boyd, 651-310-3846
or
Marlene Ibsen, 860-277-9039
or
Institutional Investors:
Michael Connelly, 860-277-1507
or
David Schlosberg, 917-778-6817
or
Individual Investors:
Marc Parr, 860-277-0779