Banking

Bank of America’s Bessant elected to board of Swiss insurer

Bank of America executive Cathy Bessant (center) has joined the board of directors of another financial giant: Zurich Insurance Group.
Bank of America executive Cathy Bessant (center) has joined the board of directors of another financial giant: Zurich Insurance Group. rlahser@charlotteobserver.com

Bank of America executive Cathy Bessant has joined the board of directors of another financial giant: Zurich Insurance Group.

The Swiss company said shareholders elected Bessant at Wenesday’s annual meeting.

Since 2010, Bessant has led the Charlotte bank’s global technology and operations unit, overseeing nearly 95,000 employees. She has been with the company since 1982 when she joined a predecessor bank.

“By serving on outside boards, members of our management team develop perspectives that contribute to our company’s performance, while sharing their expertise in important industries,” bank spokesman Dan Frahm said.

Zurich’s directors include Susan Bies, a former Federal Reserve Board member who also sits on Bank of America board.

Rick Rothacker: 704-358-5170, @rickrothacker

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