Claudio Gienal departs Zurich

Claudio Gienal has departed Zurich after spending eight years in various Zurich roles, including project management, operations and life insurance before CEO Mario Greco recruited him last April to lead a task force responsible for putting together the insurer's new strategy. The insurer will deepen cost cuts and lower profit targets, while maintaining regular shareholder payouts. A spokesman for the insurer confirmed his departure. He will be replaced by Giovanni Giuliani, who joined Zurich from Milan-based Generali in September.