The Tillinghast business of Towers Perrin has appointed Prakash Shimpi as practice leader with global responsibility for Enterprise Risk Management (ERM) in its New York office. In this role, Shimpi will lead the firm’s overall efforts in the ERM area, focusing initially on the life and property/casualty insurance industries, but also extending to the broader non-insurance corporate sector.
“We are very pleased to have someone with a background as diverse and rich as Prakash join our business,” said Patricia Guinn, Managing Director. “With his experience in corporate finance, financial products, insurance and general management, he will be a valuable resource to our clients who have to address a broad range of ERM issues important to their various constituencies.”
Shimpi is regarded as an innovator in developing the next generation of ERM practices. He was editor and principal author of “Integrating Corporate Risk Management,” which is recognized as a practitioner’s reference book on the convergence of insurance and capital markets. In the last year, he worked across academic disciplines and professional associations to develop both the theory and practice of ERM. He is a visiting scholar at the Wharton School of the University of Pennsylvania, the London School of Economics and the University of Peking. In addition, he serves on the Corporate Governance Task Force of the CFA Institute and has represented the Society of Actuaries in several ERM forums.
Until June 2003, he was president and CEO of Swiss Re Financial Services Corporation and a member of the Executive Board of Swiss Re’s Global Financial Services Business Group. He joined Swiss Re in 1995 and served as founding president and CEO of Swiss Re Financial Products Corporation, Swiss Re Capital Markets Corporation and European Finance Reinsurance Company. Under his leadership of those groups, Swiss Re developed multi-trigger insurance products, contingent capital and insurance-linked securities, launching the market’s first California earthquake and Tokyo earthquake securitizations. He also started up their interest rate, credit and weather derivatives businesses.
Prior to joining Swiss Re, he was a managing director in the Global Insurance Corporate Finance Division of Chase Manhattan Bank and VP/Manager of the Insurance Portfolio Strategies Group at Drexel Burnham Lambert.
Topics Leadership
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