Corporate Governance

The Board of Directors of Amtrust Financial Services (the "Company") sets high standards for the Company's employees, officers and directors. Implicit in this philosophy is the importance of sound corporate governance. It is the duty of the Board of Directors to serve as a prudent fiduciary for shareholders and to oversee the management of the Company's business. To fulfill its responsibilities and to discharge its duty, the Board of Directors follows the procedures and standards that are set forth in these guidelines. These guidelines are subject to modification from time to time as the Board of Directors deems appropriate in the best interests of the Company or as required by applicable laws and regulations.

Donald T. DeCarlo, Director since 2006, is an attorney in private practice. Mr. DeCarlo served as the Chairman of the Board of Commissioners of the New York State Insurance Fund from 2011 until October 2012 and served as a Commissioner from 1997 through 2009.  From 1996  to 2004, Mr. DeCarlo practiced in the New York offices of Lord, Bissell & Brook, LLP, a law firm, where he was managing partner prior to his departure. He is a director of Jackson National Life Insurance Co. of New York, Greater New York Mutual Insurance Company (an insurer that primarily underwrites large property coverages) and its subsidiaries, Greater New York Custom Insurance Company, Insurance Company of Greater New York and Strathmore Insurance Company, WRM America Indemnity Company Inc. and several of our subsidiaries. He is also a member of National General Holdings Corp.’s  Board of Directors. From 1987 to 1997, Mr. DeCarlo held a number of positions with the Travelers Group’s insurance companies, including serving as Senior Vice President and General Counsel of all of the companies from 1994 to 1997. From 1973 to 1986, Mr. DeCarlo was vice president and general counsel of the National Council on Compensation Insurance, a national association that collects, tabulates and provides data used in formulating rates for workers compensation insurance.  Mr. DeCarlo has also written three books and numerous articles on workers’ compensation insurance.

Susan C. Fisch, Director since 2010, has over 30 years of experience in the insurance industry as a reinsurance broker specializing in workers’ compensation. From 2001 to 2009, Ms. Fisch was an executive at Willis Re, Inc., an insurance broker, where she created and directed the Workers’ Compensation Practice Group that was responsible for the creation of new products, placement of workers’ compensation programs, relationship coordination with reinsurers and new client prospecting. In addition, she provided guidance and strategic direction to Willis Re clients and prospects in all aspects of workers’ compensation. From 1992 through 2001, Ms. Fisch was a senior vice president and team leader specializing in workers’ compensation at Benfield Blanch. From 1987 through 1992, she was a reinsurance treaty broker focusing on workers’ compensation at Enan & Company. From 1978 through 1987, she was employed by Thomas A. Greene Company as a facultative broker and, ultimately, as head of the casualty facultative department in the company’s San Francisco office. She began her career with Towers Perrin, an actuarial company, in 1976.  Ms. Fisch has been a frequent speaker at workers’ compensation seminars. 

Abraham Gulkowitz, Director since 2006, is a co-founder and partner of Brookville Advisory, an investment fund specializing in credit analysis whose predecessor is Brookville Capital, which was started in 2002 and in late 2006 was sold to Morgan Stanley Alternative Assets.  Mr. Gulkowitz worked for Brookville Capital from 2002 until Brookville Advisory became independent in 2011.  From 1978 to 2002, Mr. Gulkowitz served in various positions, including as a Senior Managing Director and a member of the partners’ management group, at Bankers Trust/Deutsche Bank, an investment bank. His responsibilities included the analysis of economic and business issues related to leveraged financing transactions as well as mergers and acquisitions, private equity and real estate investments. Mr. Gulkowitz joined Bankers Trust in 1978 from Chase Manhattan Bank where he was a financial market analyst. Prior to that, he was an economics research assistant to Alan Greenspan. Mr. Gulkowitz is also a member of the advisory board of Gryphon Investors Group, a San Francisco-based private equity firm specializing in middle market investment opportunities.  

George Karfunkel, Director since 1998, is currently the Chairman of Sabr Group, a consulting company based in New York City. Mr. Karfunkel was a director, the former Senior Vice President and co-owner of American Stock Transfer & Trust Company, LLC, a stock transfer company, which he founded in 1971 with his brother, Michael Karfunkel, and sold in 2008. Mr. Karfunkel’s real estate holdings include major office buildings in New York, Chicago and several other cities, which he holds through entities he controls with Leah Karfunkel. The Karfunkels also are co-owners of Worldwide TechServices, LLC, a computer maintenance and services company.  Mr. Karfunkel serves as vice chairman of The Upstate Bank, a nationally-chartered community bank, co-chairman of CheckAlt Payment Solutions, a provider of automated and electronic check transaction processing, a director of The Berkshire Bank, an independent bank based in New York, and a director of  Eastman Kodak Company, a technology company focused on imaging for business. 

Leah Karfunkel, Director since 2016, is a private investor and one of the Company's largest stockholders. She has served in various positions for community and charitable organizations, and is currently on the Board of Trustees of Touro College.

Raul Rivera, Director since 2016, is the Chairman, President and Chief Executive Officer of National Benefit Life Insurance Company, a position he has held since 2001.  Mr. Rivera is also currently a board member of Life Insurance Council of New York, Inc., Insurance Federation of New York, Inc., Life Insurance Company Guaranty Corporation of New York and one of our subsidiaries.  In addition, Mr. Rivera is a member of the National Association of Insurance and Financial Advisors and a trustee of the College of Mount Saint Vincent in Riverdale, New York.

Barry Zyskind joined AmTrust in 1998 and has held several leadership positions during his time with the company. Since May 2016 he has been Chairman of the board, adding to his roles as Chief Executive Officer and President that he has held since 2000.

Mr Zyskind began his professional career at Janney Montgomery Scott following his MBA at NYU’s Stern School of Business.

Barry Zyskind also holds key non-executive roles at Maiden Holdings and National General Holdings Corp.

  Audit Compensation Nominating and Corporate Governance
Donald T. DeCarlo
Donald T. DeCarlo
Director

Donald T. DeCarlo, Director since 2006, is an attorney in private practice. Mr. DeCarlo served as the Chairman of the Board of Commissioners of the New York State Insurance Fund from 2011 until October 2012 and served as a Commissioner from 1997 through 2009.  From 1996  to 2004, Mr. DeCarlo practiced in the New York offices of Lord, Bissell & Brook, LLP, a law firm, where he was managing partner prior to his departure. He is a director of Jackson National Life Insurance Co. of New York, Greater New York Mutual Insurance Company (an insurer that primarily underwrites large property coverages) and its subsidiaries, Greater New York Custom Insurance Company, Insurance Company of Greater New York and Strathmore Insurance Company, WRM America Indemnity Company Inc. and several of our subsidiaries. He is also a member of National General Holdings Corp.’s  Board of Directors. From 1987 to 1997, Mr. DeCarlo held a number of positions with the Travelers Group’s insurance companies, including serving as Senior Vice President and General Counsel of all of the companies from 1994 to 1997. From 1973 to 1986, Mr. DeCarlo was vice president and general counsel of the National Council on Compensation Insurance, a national association that collects, tabulates and provides data used in formulating rates for workers compensation insurance.  Mr. DeCarlo has also written three books and numerous articles on workers’ compensation insurance.

Susan C. Fisch
Susan C. Fisch
Director

Susan C. Fisch, Director since 2010, has over 30 years of experience in the insurance industry as a reinsurance broker specializing in workers’ compensation. From 2001 to 2009, Ms. Fisch was an executive at Willis Re, Inc., an insurance broker, where she created and directed the Workers’ Compensation Practice Group that was responsible for the creation of new products, placement of workers’ compensation programs, relationship coordination with reinsurers and new client prospecting. In addition, she provided guidance and strategic direction to Willis Re clients and prospects in all aspects of workers’ compensation. From 1992 through 2001, Ms. Fisch was a senior vice president and team leader specializing in workers’ compensation at Benfield Blanch. From 1987 through 1992, she was a reinsurance treaty broker focusing on workers’ compensation at Enan & Company. From 1978 through 1987, she was employed by Thomas A. Greene Company as a facultative broker and, ultimately, as head of the casualty facultative department in the company’s San Francisco office. She began her career with Towers Perrin, an actuarial company, in 1976.  Ms. Fisch has been a frequent speaker at workers’ compensation seminars. 

Abraham Gulkowitz
Abraham Gulkowitz
Director

Abraham Gulkowitz, Director since 2006, is a co-founder and partner of Brookville Advisory, an investment fund specializing in credit analysis whose predecessor is Brookville Capital, which was started in 2002 and in late 2006 was sold to Morgan Stanley Alternative Assets.  Mr. Gulkowitz worked for Brookville Capital from 2002 until Brookville Advisory became independent in 2011.  From 1978 to 2002, Mr. Gulkowitz served in various positions, including as a Senior Managing Director and a member of the partners’ management group, at Bankers Trust/Deutsche Bank, an investment bank. His responsibilities included the analysis of economic and business issues related to leveraged financing transactions as well as mergers and acquisitions, private equity and real estate investments. Mr. Gulkowitz joined Bankers Trust in 1978 from Chase Manhattan Bank where he was a financial market analyst. Prior to that, he was an economics research assistant to Alan Greenspan. Mr. Gulkowitz is also a member of the advisory board of Gryphon Investors Group, a San Francisco-based private equity firm specializing in middle market investment opportunities.  

 
George Karfunkel
George Karfunkel
Director

George Karfunkel, Director since 1998, is currently the Chairman of Sabr Group, a consulting company based in New York City. Mr. Karfunkel was a director, the former Senior Vice President and co-owner of American Stock Transfer & Trust Company, LLC, a stock transfer company, which he founded in 1971 with his brother, Michael Karfunkel, and sold in 2008. Mr. Karfunkel’s real estate holdings include major office buildings in New York, Chicago and several other cities, which he holds through entities he controls with Leah Karfunkel. The Karfunkels also are co-owners of Worldwide TechServices, LLC, a computer maintenance and services company.  Mr. Karfunkel serves as vice chairman of The Upstate Bank, a nationally-chartered community bank, co-chairman of CheckAlt Payment Solutions, a provider of automated and electronic check transaction processing, a director of The Berkshire Bank, an independent bank based in New York, and a director of  Eastman Kodak Company, a technology company focused on imaging for business. 

     
Leah Karfunkel
Leah Karfunkel
Director

Leah Karfunkel, Director since 2016, is a private investor and one of the Company's largest stockholders. She has served in various positions for community and charitable organizations, and is currently on the Board of Trustees of Touro College.

     
Raul Rivera
Raul Rivera
Director

Raul Rivera, Director since 2016, is the Chairman, President and Chief Executive Officer of National Benefit Life Insurance Company, a position he has held since 2001.  Mr. Rivera is also currently a board member of Life Insurance Council of New York, Inc., Insurance Federation of New York, Inc., Life Insurance Company Guaranty Corporation of New York and one of our subsidiaries.  In addition, Mr. Rivera is a member of the National Association of Insurance and Financial Advisors and a trustee of the College of Mount Saint Vincent in Riverdale, New York.

     
Barry Zyskind
Barry Zyskind
Chairman of the Board, Chief Executive Officer and President

Barry Zyskind joined AmTrust in 1998 and has held several leadership positions during his time with the company. Since May 2016 he has been Chairman of the board, adding to his roles as Chief Executive Officer and President that he has held since 2000.

Mr Zyskind began his professional career at Janney Montgomery Scott following his MBA at NYU’s Stern School of Business.

Barry Zyskind also holds key non-executive roles at Maiden Holdings and National General Holdings Corp.

     
= Chair of the Board = Chair = Member

Stock Information

AFSI - (NASDAQ) Jan 20, 2017
$26.55 - 0.12 4:00 PM ET

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