Zurich Insurance Group Annual Report 2012 Corporate governance report 29
Susan Bies (1947), U.S. Citizen governors of the Federal Reserve System. Between 1996
Member of the Board and 2001, Ms. Bies was a member of the Emerging Issues
Skills and experience: Ms. Bies has served as a member Task Force of the Financial Accounting Standards Board.
of the Board of Zurich Insurance Group Ltd since April From 2007 to 2008, she was a member of the Securities
2008. Ms. Bies began her career in 1970 as regional and and Exchange Commission’s advisory committee on
banking structure economist with the Federal Reserve improving financial reporting.
Bank of St. Louis, Missouri and two years later became Committee membership: Audit Committee,
assistant professor of economics at Wayne State Risk Committee
University, Detroit, Michigan. In 1977, she moved to Other directorships within the Group:
Rhodes College, Memphis, Tennessee, in a similar role Zurich Insurance Company Ltd, Zurich Holding Company
and in 1979 joined First Tennessee National Corporation of America, Inc.
in Memphis, where she remained until 2001. During External appointments: Ms. Bies has served as
the early years, her areas of responsibility included tactical a member of the board of directors of The Bank of
planning and corporate development. In 1984, she America Corporation since June 2009 and has also
Governance
became chief financial officer and chairman of the asset/ been a member of the Senior Advisory Board of
liability committee. In 1995, she became executive vice Oliver Wyman since 2009.
president of risk management and auditor and chairman Educational background: Ms. Bies graduated with
of the executive risk management committee, as well as a BS degree from the State University College at Buffalo,
continuing her duties with the asset/liability committee. New York and with a MA degree from Northwestern
From 2001 until 2007, she was a member of the board of University, Evanston, where she later gained a PhD.
Alison Carnwath (1953), British Citizen from 2004 to 2007 of Friends Provident plc, from 2004
Member of the Board to 2007 of Gallaher Group and from 2007 to 2010, she
Skills and experience: Ms. Carnwath has substantial was the independent Chairman of MF Global Inc. Further,
financial industry experience. She began her career with she also served on the board of directors of Barclays from
Peat Marwick Mitchell, now KPMG, in 1975 to 1980 2010 to 2012.
and practiced as a chartered accountant. From 1980 to Committee membership: Remuneration Committee
1982, she worked as a corporate financier for Lloyds Other directorships within the Group:
Bank International. From 1982 to 1993, she was Assistant Zurich Insurance Company Ltd
Director, then Director at J. Henry Schroder Wagg & Co External appointments: Ms. Carnwath has been
in London and New York. From 1993 to 1997, Ms. a Senior Advisor of Evercore Partners since 2011 and
Carnwath was a Senior Partner at the financial advisory an independent Chairman of ISIS Equity Partners LLP since
firm Phoenix Partnership. The firm was taken over 2000. She has been a Chairman of the Board of Land
by Donaldson Lufkin Jenrette (DLJ) in late 1997; Securities Group plc since 2008 and a member of the
Ms. Carnwath continued working for DLJ until 2000. board of Man Group plc since 2001 and PACCAR Inc.
Ms. Carnwath has held several board offices. From 2000 since 2005.
to 2005, she was the Chairman of the board of Vitec Educational background: Ms. Carnwath graduated in
Group plc, from 2001 to 2006 a director of Welsh Water, economics and German from the University of Reading.