Mr. Shipowitz is succeeding Donald H. Neustadt, who will continue to serve on ACEs Board of Directors. Mr. Shipowitz will also continue to serve as a director and as President and Chief Operating Officer of ACE. Mr. Shipowitz has served as the President and Chief Operating Officer and as a Director of the Company since January 2000 and as the Companys Senior Vice President and Chief Financial Officer from May 1997 to January 2000. Mr. Shipowitz is a Director and member of the Executive Committee of Financial Service Centers of America, the industry trade association.
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