Business Headlines | 2 years ago

Elyse Greenspan Downgrades Axis Capital Holdings Limited (NYSE:AXS)

Wells Fargo’s Elyse Greenspan dented the investors sentiment for Axis Capital Holdings Limited (NYSE:AXS) after it downgraded it to “Underperform.” She stated that earnings are at risk as industry pricing remains under pressure. Greenspan has set a price target range of $56-$59 on Axis Capital stock. The company’s stock has gained almost 20% in the preceding three months.

The highlights

Prior to this update, Axis Capital had reported that Conrad D. Brooks will be the General Counsel of the company, effective January 1, 2017. Brooks, who moves from the position of Executive VP, Corporate General Counsel, will report to Albert Benchimol, the CEO and President of AXIS Capital. He will be a member of the firm’s Executive Committee. Mr. Brooks will have international oversight of compliance, regulatory and legal businesses across all AXIS offices.

Effective January 1, 2017, Brooks assumed the position of General Counsel for Axis. Since joining company a decade ago, he has played a vital role in advancing standards of operations for international compliance and legal processes and, in performing so, has earned the confidence and respect of company’s management team and Board of Directors.

He brings to the company an extensive understanding of its business and deep expertise in the segments of insurance regulation, corporate law, underwriting support, litigation and compliance as it applies to global reinsurance and insurance. They are extremely proud to engage him as a senior leader within Axis Capital.

Mr. Brooks’ promotion comes on the back of Richard T. Gieryn Jr. retirement, who had served as General Counsel since 2006. A valued contributor of Axis’s senior leadership team, Gieryn recorded a 35-year law experience that comprised 14 years at AXIS. He has been a central member of company’s leadership team and has made noteworthy contributions to overall growth. Gieryn has been a major player in helping the firm surface from a start-up into a top global player in the specialty reinsurance and insurance space.

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