Axa names new Asia CEO in global management reshuffle

French multinational insurer Axa has unveiled a new management structure for its international operations, which includes the appointment of Gordon Watson as chief executive for Asia, including Japan, effective from 1 January.

The role has been vacant since the resignation of Jean-Louis Laurent Josi at the end of June. Axa had hoped to name his successor before the end of the third quarter but has instead announced Mr Watson’s hiring along with a number of other senior appointments.

Mr Watson, who will also become a member of the Axa Group management committee, will report to Axa Group CEO Thomas Buberl, who welcomed his imminent arrival: “I would like to welcome Gordon to Axa and look forward to working with him to expand our Asian markets business, a key growth generator for the Axa Group. Gordon is an experienced and energetic leader who has a strong track record of delivering results.”

The majority of Mr Watson’s 30 years in the insurance industry were spent at AIG and Hong Kong-based AIA, where he was regional chief executive between 2011 and 2017, in charge of its operations in Hong Kong and Macau, Australia, the Philippines, Vietnam and New Zealand.

Axa has also announced a new operating model, which will split the group into five geographies – France, Europe, Asia, the US and International – and one corporate centre. The group’s commercial risk business, Axa Corporate Solutions, and its asset management arm, Axa Investment Managers, will both be managed alongside these geographies and report to the group CEO, Mr Buberl.

“My objective is to let our teams focus their energy on growing our business and deliver excellent service in their respective markets,” said Thomas Buberl, chief executive of Axa. “I am convinced that local empowerment is instrumental to the long-term success of Axa, by making our transformation tangible on the ground, as close as possible to our clients. In order to achieve this, the simplification we are implementing is an absolute prerequisite, but also the starting point of a large effort to make Axa simpler for all our stakeholders.”

The new model is expected to be operational from the first quarter of 2018 and will be steered by a new management committee. Alongside the aforementioned Mr Watson, the committee will include Gérald Harlin, chief financial officer, and George Stansfield, general secretary, who have been appointed as deputy CEOs, in addition to their current responsibilities.

Meanwhile, Benoît Claveranne has been appointed CEO, international and new markets; Mark Pearson as CEO of Axa US; and Jacques de Peretti, chairman and CEO of Axa France. In addition, Alban de Mailly Nesle, who remains group chief risk officer, will takes on the additional responsibility of the new group insurance office; Antimo Perretta is appointed CEO of Europe; and Astrid Stange is named chief operating officer.

“The new management committee is an excellent blend of the previous team together with new leaders from across the group, with strong operational experience and excellent knowledge of the insurance industry,” said Mr Buberl.

“It also confirms our ability to attract top talents: Mr Watson has been instrumental in AIA’s growth trajectory over the recent years and I am convinced that he will lead our Asian businesses to many successes.”