Insurance

Markel chief financial officer assumes same role at parent firm

Dec 19, 2023 1 year ago

Predecessor to leave at the end of the year

By Terry Gangcuangco

Dec 19, 2023 Share

Markel Group, the parent firm of insurance business Markel, has tapped Markel chief financial officer Brian Costanzo as the group’s new CFO. He took on the group post on December 18 while continuing to serve as Markel’s finance chief.

According to Markel Group’s announcement, former group CFO Teri Gendron is leaving the company on December 31. She came on board on March 20. The reason for her year-end departure was not disclosed.

As previously reported, also leaving before the New Year is Markel’s president and chief operating officer of global insurance operations Bob Cox.

Other changes include Alex Martin’s move from his role as Markel CFO to Markel Specialty president at the start of this month.

Commenting on the latest appointment, Markel Group chief executive Tom Gayner said: “Brian is a proven leader who will ensure our financial discipline and help drive long-term profitable growth. I want to thank Teri for her contributions in helping us evolve the CFO function at the holding company level.”

Costanzo has been with the enterprise for 14 years. As chief financial officer for both Markel Group and Markel, he will be in charge of overseeing and managing all financial operations for the holding company and the insurance engine.

Meanwhile accounting policy and reporting managing director Meade Grandis, who has been with the business for 13 years, will become Markel Group’s chief accounting officer and controller.

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