Adam Karkowsky has been appointed Executive Vice President (EVP) and Chief Financial Officer (CFO) of AmTrust Financial Services, Inc., replacing Ronald Pipoly, Jr.
Karkowsky joined AmTrust in 2011 and most recently served as EVP, Strategic Development and Mergers & Acquisitions. He will be based in the firm’s New York office, and his appointment comes after a long search process, which AmTrust says included both external and internal candidates.
Pipoly has been with the firm since 2001 and was appointed CFO in 2005, and will work with Karkowsky to ensure a smooth transition.
AmTrust Chairman and Chief Executive Officer (CEO), Barry Zyskind, said; “Adam, with his leadership and knowledge of AmTrust and demonstrated financial expertise, is uniquely qualified to assume the role of CFO.
“Adam is an important leader in guiding the strategic growth of the Company, both domestically and internationally. He has a deep understanding of AmTrust and the property and casualty insurance industry. We look forward to benefitting from Adam’s knowledge of our industry and our company in his new role as we work to capitalize on AmTrust’s size and scale to achieve meaningful organic growth and significantly increase operational efficiencies across our business.”
Commenting on his new position, Karkowsky said; “As part of our focus on operational excellence across the organization, we will be building on the progress that has been made to strengthen AmTrust’s financial reporting capabilities and expertise, while also further enhancing our disclosure regarding the Company’s business and financial performance.”
On the departure of Pipoly as CFO, Zyskind added; “On behalf of the entire Board and management team, I want to thank Ron for his many contributions and hard work as CFO over the past twelve years. We look forward to continuing to benefit from Ron’s experience and capabilities.”
