Rampe Named Ethics Officer at ACE
NU Online News Service, May 3, 2:39 p.m. EDT--Kevin Rampe, who headed the Lower Manhattan Development Corporation, which is overseeing the rebuilding of the World Trade Center area, has quit his post to become the global ethics and compliance officer for Bermuda-based ACE Limited.
Mr. Rampe will chair a new company global ethics and compliance committee responsible for coordination of compliance-related functions. His mandate will include communication and training for business ethics and compliance-related matters across the organization.
The move comes in the aftermath of the investigations of New York Attorney General Eliot Spitzer into bid-rigging and hidden contingency fees paid by insurers to brokers. One ACE executive pled guilty to a misdemeanor stemming from the investigation.
Company spokesman Robert Grieves said ACE's own internal bid-rigging and contingency fees investigations have concluded, while the company is still conducting an examination as to whether its use of finite reinsurance products involved proper accounting.
Mr. Rampe will report on a day-to-day basis to Robert Cusumano, general counsel of ACE Limited, and will also report directly to Evan Greenberg, president and chief executive officer of the company.
Prior to his move to the LMDC, Mr. Rampe served as first deputy insurance superintendent in New York and as a senior adviser to GOP Gov. George Pataki.
He is leaving the LMDC at a time of uncertainty when safety concerns expressed by law enforcement officials about the proposed Freedom Tower threaten to postpone the project for over a year.
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