Zurich COO John “Harry” Butler has been appointed CEO to replace Malcolm Jones. Mr Jones, who was also CEO Asia Pacific for Zurich, has announced his intention to leave the company.

There was no explanation for the sudden change at the top. Mr Butler noted that Zurich Ausralia has experienced significant growth in recent years “and is well positioned for this to continue in the future. Over all, it is a great time to be in this business.”

His bosses in Switzerland might not agree. On Monday the parent company – which is in the process of finding a new CEO itself – issued a fifth warning about its 2001 results, and declined to reconfirm its 2002 profit outlook.

Prior to joining Zurich in March 1999 as CFO, Mr Butler was a senior vice president with Bankers Trust Australia. He is a former partner with Ernst & Young and executive manager with Citibank.

The company’s Asia Pacific management structure will also change. Three smaller business units – India, Greater China, and Australia & Other Markets – will replace the previously larger Asia Pacific region structure. Gunnar Stokholm, from Zurich’s head office, will take on the regional role of head of Australia & Other Markets.