Hedge Financial Hires Chiarenza As New CEO

HEDGE Financial, the New York-based capital markets subsidiary of US insurance group CNA, has hired Anthony Chiarenza as its chief executive. The hire follows Hedge Financial's formation earlier this year as a hybrid entity that combines insurance and financial risk management techniques.

Chiarenza says Hedge Financial was set up to help CNA diversify its risks by developing catastrophic bonds and swaps products that can be sold to global investment banks and other investors.

CNA has staffed Hedge

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