Swedish insurance company Skandia is to restructure to help it benefit from its size - it operates in 20 countries - and to create conditions for continued profitable growth.
The structure, which will take effect from 1 January 2002, will be made up of three business divisions and three global business units.
It includes the Europe division, the UK and Asia Pacific division, and the Americas division.
The current group chief financial officer and chief investment officer, Ulf Spaang, will head the Europe division.
Board member Alan Wilson will head the UK and Asia Pacific division, which includes Skandia's Japanese business, while board director Wade Dokken will lead the Americas division.
The three men will also become executive vice presidents of Skandia.
Jan Erik Back will replace Spaang as Skandia's CFO. Michael Wolf will become chief investment officer.
Skandia also intends to form an Offshore unit, combining the business of Royal Skandia, Isle of Man and Skandia Leben.
A Global Business Development unit will start companies in new markets and will be responsible for global projects and new core businesses.
Skandia has already set up a Global Funds unit.
Malcolm Campbell will head the Offshore unit, Christian Thwaites the Global Funds unit and Cecilia Kragsterman will be head of Global Business Development.
