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Money Management

Generali Insurance Asset Management appoints CEO

Francesco Martorana, left, and Santo Borsellino

Francesco Martorana was named CEO of Generali Insurance Asset Management, a spokeswoman said.

Mr. Martorana replaced Santo Borsellino. Mr. Martorana, formerly head of investments since October 2017, remains in this role on an interim basis. "We do not have a schedule for the head of investments' appointment at the moment," the spokeswoman said.

Mr. Borsellino was named chairman of the board at Generali's investments, asset and wealth management unit, the spokeswoman confirmed. Mr. Borsellino was also named head of investments and asset management, corporate governance implementation and institutional relations at the unit. He manages relationships with external institutions, associations and regulatory bodies, and assures effective governance.

Generali had €450 billion ($515 billion) in assets as of Dec. 31.