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Fairfax Financial Holdings Ltd. chairman and CEO Prem Watsa is pictured in April, 2013. Mr. Watsa promoted Paul Rivett to the new role of president on July 19, 2013.
Fairfax Financial Holdings Ltd. chairman and CEO Prem Watsa is pictured in April, 2013. Mr. Watsa promoted Paul Rivett to the new role of president on July 19, 2013.
(AARON HARRIS/REUTERS)

Fairfax Financial names new second-in-command

Fairfax Financial Holdings Ltd.’s chief executive Prem Watsa has solidified the role of his second-in-command.

His Toronto-based insurer and holding company promoted Paul Rivett to the new role of president on Friday, which signals to investors that the long-time employee would be in charge if anything was to happen to its founder.