St. Paul Chooses New Head of Reinsurance Unit

St. Paul Cos Inc. has named Jerome Fadden as head of its reinsurance operation, replacing James Duffy, who is retiring.

Fadden becomes head of St. Paul Re, effective immediately, after being executive vice president and director of strategic development at Wall Street firm UBS PaineWebber. Fadden was CFO of PaineWebber from 1999 to 2001.