Bermuda-based re/insurance firm Arch Capital has appointed current Lead Director of its Board John Pasquesi to succeed Constantine Iordanou (also known as Dinos) as Chairman.
Pasquesi will step into the Chairman role upon the completion of Iordanou’s term.
Iordanou joined Arch in 2002 and went on to serve as Chief Executive Officer for 15 years before current Chief Executive Officer Marc Grandisson assumed the role as part of a planned succession.
“I want to thank Dinos for his significant contributions in making Arch such a successful company,” said Grandisson.
“I am grateful to have had the opportunity to learn from and work with him for nearly twenty years.”
“I look forward to ongoing engagement with our Board of Directors under John’s leadership as we continue to help our clients, employees, investors and communities achieve their greatest potential.”
Pasquesi has been a member of the Board and Vice Chairman since 2001 and is the managing member of Otter Capital LLC, a private equity investment firm he founded in January 2001.
Prior to Otter Capital, Pasquesi was a Managing Director of Hellman & Friedman LLC.
“Dinos was instrumental in developing Arch into a highly profitable company with a worldwide insurance, reinsurance and mortgage insurance presence,” said Pasquesi.
“The Board and I want to recognize all he did to establish Arch as a leader in the insurance industry and to develop the generation of managerial talent that is currently leading the business. We have great respect and admiration for Dinos both as a leader and as a person.”
“We have successfully completed the CEO transition process, and I look forward to continuing to work with the rest of the Board, Marc and the existing management team to help sustain Arch’s future growth,” added Pasquesi.