Sunday, November 23, 2014
Inquirer Daily News

Jim Schiro | Ex-Zurich Financial CEO, 68

James Schiro, 68, who led Zurich Financial Services AG through the credit crisis and became Goldman Sachs Group Inc.'s lead independent director, died Wednesday, according to an e-mail sent Friday to employees of New York-based Goldman Sachs by chief executive officer Lloyd C. Blankfein and president Gary D. Cohn. Mr. Schiro died of multiple myeloma, at his home in Princeton, N.J.

In 2002, Mr. Schiro became CEO of Zurich Financial Services, which had been the worst-performing European insurance stock the previous year. Under his leadership, the company returned to profitability. It changed its name to Zurich Insurance Group AG in 2012.

After his retirement from Zurich Financial in 2009, Mr. Schiro joined Goldman Sachs' board and in 2012 was named lead director and chairman of the corporate governance, nominating and public responsibilities committee, according to the bank's biography. He retired last month to undergo medical treatment. - Bloomberg

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