Aviva appoints Marcelo Cruz as group chief risk officer

Aviva plc, the savings, investment and insurance group, announces the appointment of Marcelo Cruz as its group chief risk officer.

Marcelo joins Aviva from Lehman Brothers in New York where he was a senior risk manager responsible for risk analytics. Previously he was the founder and managing director of the boutique consulting group RiskMaths.

Prior to founding RiskMaths, Marcelo led on the development of operational risk methodology at UBS AG and UBS Warburg, and worked as a derivatives trader for major international investment banks such as JP Morgan for several years. Marcelo holds a PhD in mathematics, an MSc, an MBA and a BSc in economics/econometrics. He is also an adjunct professor at the New York University.

Marcelo edits several publications in the area of finance, risk management and stochastic modelling and has authored books and a number of academic articles on the subject. He will report to Philip Scott, Aviva group finance director, overseeing risk and compliance across the group.

Philip Scott commented: "We're delighted that Marcelo is joining the Aviva team. He's a leading voice on international risk management issues and will play an integral part in our governance and compliance process."

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Media enquiries:
Danielle Anthony, senior manager, Aviva group media relations, +44 (0)20 7662 9511

Notes to editors:

• A photograph of Marcelo is available at /index.asp?PageID=60&imageid=848
• Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
• Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £41.5 billion and assets under management of £364 billion at 31 December 2006.
• The Aviva media centre includes images, company and product information and a news release archive.