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.
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
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.