[Robert I. Lipp], 55, has been chief executive officer of The Travelers Insurance Cos. since they were acquired in December by Weill's Primerica Corp., now called The Travelers Inc. A relative newcomer and only part - time resident of Connecticut, New Yorker Lipp is still introducing himself to the area and the insurance company.
"He almost disdains them, in a way, because he sees them as a shareholder," says James F. Calvano, Travelers chief administrative officer, who's known Lipp since the mid - 1980s. Lipp sees materialistic surroundings as unnecessary and a waste of company money, Calvano says.
Lipp "does not take himself or things so seriously that it becomes a religious experience to try to do business," says Calvano. The two men have known each other since they led the turnaround of Baltimore - based Commercial Credit, a consumer finance company where Lipp was chief executive.