Annuity and Life Re has announced the retirement of Lawrence Doyle from president and CEO. Though he has resigned, Doyle will remain with the company on a provisional basis to assist with certain projects. Annuity and Life Re has employed an executive search firm to find a replacement.
In the interim, Annuity and Life has set up a transition committee of the board of directors, headed by Frederick S. Hammer and Robert M. Lichten, to run and manage operations. Both Hammer as Lichten have served as executive chairmen and directors since the company's inception in 1997, and both co-chair Guggenheim Securities and Inter-Atlantic Capital Partners.
Hammer was formerly chairman and CEO of Meritor Savings Bank, and prior to that was an EVP at Chase Manhattan Corp. Lichten is a former managing director of both Lehman Brothers and Smith Barney.