Catalina hires Munich Re asset management CEO to oversee group investment function

Bermuda-based legacy specialist Catalina Holdings has appointed Philipp Waldstein to the position of group chief investment officer. He joins from Munich Re.

Waldstein has extensive experience of managing assets and investments of large reinsurance and insurance companies. His most recent role was chief executive officer of MEAG, the asset manager for Munich Re responsible for €297 billion AuM at year end 2019, and before that he was responsible for all global Portfolio Management activities of MEAG.

Prior to joining Munich Re Group, he held progressively senior financial and leadership roles at UniCredit Milan, the global banking and financial services company, and prior to that for sixteen years at Germany-based Hypovereinsbank.

In his new role, Waldstein will oversee Catalina’s Group investment function, helping to manage the business’ assets across multiple geographies, as the business transitions into its next phase of growth and strategic development.

Waldstein is replacing Peter Harnik who joined Catalina in 2011 and is now retiring.

Waldstein’s appointment follows on from Catalina’s recent appointment of Derrick Irby to the position of group chief financial officer.

Chris Fagan, chief executive of Catalina said: “I am delighted to welcome Philipp to Catalina. He is a senior and strategically important hire for the business. He has far reaching experience as an investment manager and will strengthen our investment team while also supporting us through Catalina’s next phase of development.

“I would like to express my thanks to Peter Harnik for helping to establish Catalina’s investment management capabilities and for many years of very good investment returns. We wish him well in retirement.”

Waldstein commented: “Catalina is an entrepreneurial yet established business and I am excited to embark on this new opportunity. I look forward to working with Chris and the investment team developing Catalina’s investment expertise, so that it can capitalise on the significant opportunities present in the legacy space.”