Gen Re Unit Ex-CEO Banned From UK Bank Industry

Law360, New York (April 6, 2009, 12:00 AM EDT) -- The former CEO of a General Reinsurance Corp. unit has been banned for life from serving in the U.K. financial services industry after being accused of aiding companies in their effort to hide losses through the use of reinsurance products.

On Monday, Britain's Financial Services Authority emerged victorious in its battle against former Alternative Solutions CEO Milan Vukelic, as the Financial Services and Markets Tribunal found the executive to have acted without integrity by helping businesses to conceal significant losses.

"This case has been fought every...
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