Group, announced yesterday that he is leaving ACE.

No further details were available. But Brian Duperrault, chairman and chief excutive officer of ACE Ltd., said: "This development occurred as a result of differences between us over personnel matters.'' He added that with Mr. Charman's departure the president and chief executive officer of each of the business units comprising the ACE International Group will report directly to him. These are ACE Global Markets, ACE Europe, ACE Far East, ACE Asia Pacific and ACE Latin America.

"One of the many characteristics that differentiates ACE is the depth and strength of the management leading our operating units,'' he said. "Since each of these units is semi-autonomous and staffed with a highly qualified chief executive, I have no doubt our regional operations won't miss a beat in staying focused on their business goals.'' Mr. Charman, the former chief executive officer of ACE Global Markets, was named group president and chief executive of ACE International in February when the company was divided into two broad operating groups; ACE USA and Bermuda under the leadership of Dominic Frederico and ACE International.

At the same time, Gary Schmalzriedt was named president and chief executive of ACE Europe and ACE Global Markets.

Mr. Charman joined ACE in 1998 when the company bought Lloyd's agency Tarquin Plc for $500 million. Mr. Charman was then managing director of Tarquin.

Out: John Charman Focused: Brian Duperrault