Loews Corporation Promotes Benjamin Tisch to Senior Vice President, Corporate Development and Strategy

Rhea-AI Summary

Loews Corporation (NYSE: L) has appointed Ben Tisch as Senior Vice President of Corporate Development and Strategy, effective immediately. Tisch, who joined Loews in 2011, will manage the performance of subsidiaries and collaborate with the Chief Investment Officer, Richard Scott, on portfolio management for Loews and its subsidiary, CNA Financial. His experience includes leading strategic planning and overseeing capital allocation. Tisch has also played a key role in the significant sale of a stake in Altium Packaging to Singapore's sovereign wealth fund.

Positive

• Ben Tisch's promotion indicates strong leadership continuity in corporate strategy.
• His prior experience and deep knowledge of CNA Financial enhance the company's strategic positioning.

Negative

• None.

NEW YORK, May 10, 2022 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today that Ben Tisch has been promoted to Senior Vice President of Corporate Development and Strategy, effective immediately.   Tisch will oversee the performance of Loews's subsidiaries and will work closely with Loews's Chief Investment Officer Richard Scott to manage the portfolios for Loews and its publicly traded P&C insurance subsidiary, CNA Financial.   As a member of the leadership team, Tisch will help formulate the company's view on intrinsic value, develop and implement capital allocation strategies and monitor market conditions. 

Tisch joined Loews in 2011 as a member of the company's investment department.   He was promoted to Vice President in 2014 and tasked with leading the corporate development function at Loews, while also focusing on strategic planning and investments.  He has been responsible for monitoring the performance of both CNA Financial and Altium Packaging.  In April of 2021, Tisch led the Loews team in the sale of 47% of Altium to GIC, Singapore's sovereign wealth fund.

"In his decade at Loews, Ben has proven himself to be a savvy financial executive and capital allocator.  Ben's deep knowledge of Loews's subsidiaries -- especially CNA Financial -- and his understanding of the capital markets will serve Loews well," said Paul Fribourg, lead independent director of Loews Corporation and CEO of Continental Grain Company.

Tisch is a member of the Board of Directors of CNA (NYSE: CNA) and sits on the boards of Altium Packaging and Boardwalk Pipelines, Loews's privately held subsidiaries.

Prior to joining Loews, Tisch was a Managing Director at Fortress Investment Group, responsible for managing a variety of asset classes including international fixed income, international equities, and U.S./European credit instruments for the Global Macro Fund.

About Loews Corporation

Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality and packaging industries.  For more information, please visit www.loews.com.

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SOURCE Loews Corporation

FAQ

What is Ben Tisch's new role at Loews Corporation?

Ben Tisch has been promoted to Senior Vice President of Corporate Development and Strategy.

When was Ben Tisch's promotion announced?

Ben Tisch's promotion was announced on May 10, 2022.

What are Ben Tisch's responsibilities at Loews Corporation?

He will oversee subsidiary performance and manage capital allocation strategies.

Which company is a subsidiary of Loews Corporation?

CNA Financial is a publicly traded subsidiary of Loews Corporation.

What significant transaction did Ben Tisch lead?

He led the sale of a 47% stake in Altium Packaging to Singapore's GIC.