Global data analytics provider Verisk has named Lee Shavel to the role of President, following the announcement that incumbent Mark Anquillare is to step down in the middle of January.
Shavel, said the firm in a statement, will take on the role of President in addition to his current position as CEO of the firm.
Anquillare is stepping down after taking on the roles of President and COO in May this year. He served as CFO during the company’s IPO in 2009 and through 2016. In 2016, Anquillare was named COO and led the company’s insurance vertical.
Shavel said: “Mark has been a terrific partner and a dedicated and accomplished leader at Verisk for more than three decades. We are grateful for his leadership and many contributions that have expanded the ways we support our customers and fostered a culture of customer-centricity, innovation, and collaboration. We have an experienced leadership team that will continue to advance how we enable the strategic priorities of the global insurance industry.”
The firm’s website indicates that Shavel joined in 2017 as CFO. He became group president of the firm energy and financial services groups in 2021. Before joining Verisk, he was Nasdaq’s executive vice president and CFO from 2011 to 2016. From 1993 to 2011, he served as managing director, Americas head of Financial Institutions Investment Banking, and other roles at Bank of America Merrill Lynch.
Last year, Shavel was appointed as group president of the company’s energy and financial services segments, where he integrated the business for improved strategic and operating coordination, and accelerated investment in the company’s energy data analytic platform.
Anquillare, meanwhile, joined Verisk in 1992 and has held a number of leadership positions of increasing responsibility. He served as CFO during the company’s IPO in 2009 and through 2016. He became president in a shake-up earlier this year.
Anquillare said: “It has been an immense honour to help Verisk grow from its modest, non-profit roots into a global organization that plays a crucial role in supporting and advancing the important work of the global insurance industry. As I leave Verisk, the company is uniquely positioned to address the opportunities and challenges before the industry by ushering in a new era of innovations.”
