Rolf Hüppi is to step down as the chief executive officer of Zurich Financial Services (ZFS) by summer 2002, it was announced today. He will remain as chairman of the board.

Hüppi has been under pressure to stand down for several months due to disappointing results for the group. His successor as CEO will be announced shortly.

ZFS also announced that David L. Wasserman has been appointed as CEO of Zurich's Global Asset Business Division. He will replace Steven Gluckstern.

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