MetLife leads with Italy governance change for EU subsidiaries
Global asset manager and insurance provider MetLife has unveiled a new governance structure for its European branches, which will be initially implemented in Italy.
In Italy, the firm has registred a subsidiary branch of Irish company MetLife Europe Limited, which will have offices in Rome and in Milan.
Robert Gauci (pictured) has been appointed general manager of the new holding.
He will coordinate an executive leadership team composed by Maurizio Taglietti, senior director Bancassurance & Partnerships, Alessio Germani, head of product & underwriting, Laura Balla, head of marketing & communication, Serafino Marchio, chief financial officer & Risk, Roberta Roveroni, chief operating officer, Luca Bechini, head of human resources & general services and Simona Piazza, head of compliance & legal.
In Italy, MetLife posted a 131% growth of net income at the end of the first semester of 2012.
A similar strategy is now expected to be applied in the other European markets where MetLife is present.
The new governance is aimed at the optimisation of insurance and asset management activities of the firm within the European Union, also in line with new requirements introduced by Solvency II regulation.