Deutsche Bank Comments on Cigna CFO Appointment

Cigna (NYSE: CI) announced today the appointment of Ralph Nicoletti as Chief Financial Officer effective June 20, 2011, Deutsche Bank reports.

“When we spoke to Cigna after the announcement, the company highlighted that Mr. Nicoletti will add several capabilities including extensive knowledge of global consumer markets along with strong M&A experience,” Deutsche Bank writes.

“We also spoke with DB's retail analyst Bill Schmitz who noted that Mr. Nicoletti had a strong track record of managing operating expenses and improving SG&A while at Alberto Culver. This should be encouraging news for investors given the perception in the market that CI historically has been less efficient from an operating cost management perspective than its national MCO peers.”

Cigna closed Tuesday at $49.89.