The Travelers Companies is one of the leading providers of casualty property insurance in the United States. It provides insurance for individuals and businesses which cover property, vehicles and financial products. It has a field office in every state and also has operations abroad. The CEO of the company is Alan Schnitzer and here are ten things that you may not know about him.
1. He Was Previously CEO Of The Business and International Insurance Segment
Before he became CEO of the whole company he was in charge of the business and international insurance segment, which is a large part of the whole business. During his time in this role he was instrumental in expanding into new markets such as South Africa and Canada. His impressive performance in this role was one of the main reasons why he was the first choice when the position of CEO became available.
2. He Attended The University Of Pennsylvania
Alan Schnitzer attended The Wharton School at the University Of Pennslyvania where he got his Bachelor’s Degree. This business school has produced more billionaires than any other business school in the United States. Attending this school helped to get his career off to a good start because it carries with it an assurance of the quality of the candidate.
3. He Got His Juris Doctor From Columbia Law School
His background was in business but after he graduated from Pennslyvania he attended Columbia Law School in New York. During his time here he was appointed as a Harlan Fiske Stone Scholar which is awarded to a student that shows superior academic achievement. This is only awarded to one student in every class and so is not as easy award to win.
4. He Was Appointed Chairman Of The Board In 2017
He had been serving as CEO of Travelers Companies for a number of years when he was also offered the position of Chairman of the Board. It is not uncommon for CEOs to hold this role as well in big businesses because it creates a link between the board and the employees of the business.
5. He Was A Partner At Simpson Thacher & Bartlett
Before he started working for Travelers Companies he was a partner at the law firm Simpson, Thatcher & Bartlett. While he was working here he built up a good working relationship with Travelers Companies as they were clients of his. His time as a lawyer taught him many valuable skills that he was able to take into his role as CEO.
6. He Serves On The Advisory Board Of The Institute for Urban Research At The University Of Pennsylvania
He still has strong ties with the University of Pennsylvania and carries out a number of roles for the institution. One of these is serving on the advisory board of the Institute for Urban Research which focuses on research into issues that are faced by cities all over the world.
7. He Is A Member Of The Business Council
The Business Council is an organization that is made up of the CEOs of some of the worlds largest companies. The purpose of the council is to discuss and work on issues that affect all types of business. Membership of this council is personal not corporate and membership is by invitation only.
8. He Is A Member Of The Metropolitan Museum of Art’s Business Committee
Alan Schnitzer serves in a number of voluntary roles and his work for the Met is an example of this. The business committee is made up of member from some of the biggest companies in New York and their focus is raising money to help with the running of the museum. They also donate money personally and on behalf of the companies they work for.
9. He Is Married To Anne Berman
He and his wife Anne Berman have been married since 1994. They both attended the University of Pennslyvania at the same time. She is also a lawyer that graduated with an MBA from Columbia Law School.
10. His Salary Is $1 Million
The salary that Alan Schnitzer earns as CEO of Travelers Companies is $1 million annually. His annual income can be as much as fifteen times higher than this though as he also receives bonuses and stock options. His salary as CEO is on par with that earned by CEOs of similar sized companies.