James E. Duemey to retire Dec. 31 following 30-year State Auto career
State Auto Vice President and Chief Investment Officer James E. Duemey, who has guided State Auto's investment strategy for the past 30 years, will retire on Dec. 31, 2011. He will be succeeded by Assistant Vice President and Portfolio Manager Scott A. Jones, who joined State Auto in 1989 and has worked closely with Duemey since 2002.
"The success of our investment strategy over the years has been due in no small part to the depth and breadth of Jim's investment knowledge, which was clearly evident during the economic turmoil of 2008 and 2009," said State Auto Vice President and Chief Financial Officer Steve English. "Thanks to his expertise and guidance, State Auto's investment portfolio endured one of the most turbulent times in economic history largely unscathed. He leaves us with a well-positioned portfolio and an investment team that has learned from him and will continue on the trajectory he established.
"Jim's dedication to a sound investment strategy is exceeded only by that to his family, his alma mater and the game of golf," continued English. "We wish him the very best in the years ahead and thank him for his many contributions."
Duemey earned a bachelor's degree and an MBA from The Ohio State University. He served Huntington Bank, Midland Insurance and Columbus Mutual Life Insurance Company before joining State Auto in 1980 as an investment officer. He was elected an assistant secretary in 1986, an assistant vice president in 1988, and a vice president in 1991. In addition to his participation in the Columbus Society of Financial Analysts and the Columbus Stock and Bond Club, Duemey has served as a member of the adjunct faculty at Franklin University, where he taught economics and investment management courses. He holds the Chartered Financial Analyst (CFA) designation.
Jones earned a bachelor's degree in finance from The Ohio State University before joining State Auto as a personal lines underwriter. He moved to the financial accounting department in 1996, and the investments department in 2002. Jones holds the CFA, Chartered Property and Casualty Underwriter (CPCU) and Certified Treasury Professional (CTP) designations. He is a member of the Central Ohio Association of Financial Professionals and the CFA Society of Columbus.
State Automobile Mutual Insurance Company, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company and is proud to be a Trusted Choice® company partner. State Auto Mutual is part of the State Auto Group. The State Auto Group markets its insurance products in all 50 states and the District of Columbia through independent insurance agencies and brokers. The State Auto Group is rated A (Excellent) by the A.M. Best Company and includes State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, State Auto Florida, Milbank, Farmers Casualty, Meridian Security, Meridian Citizens Mutual, Beacon National, Beacon Lloyds, Patrons Mutual, Litchfield Mutual Fire, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. Additional information on the State Auto Group can be found online at http://www.StateAuto.com/.
Contacts:
State Auto Insurance Companies
Kyle Anderson, AVP Corporate
Communication
W 614-917-5497
M 614-477-5301
