Swiss Re announces a change in leadership
The reinsurance giant announced the switch in executive level positions and the appointment of a new chief risk officer, new chief operating officer and a chairman of global partnerships.
The change in structure—which is expected to further strengthen the company’s core capabilities and market presence—will focus specifically on: reinsurance, corporate solutions and Admin Re. All three units will now be represented by dedicated executive committee members.
“This change, and the executives leading it, represents Swiss Re’s strategy to seize and secure the future,” said Stefan Lippe, chief executive officer of Swiss Re. “We are taking advantage of our company’s core strengths to become more nimble and more responsive to the needs of our clients and investors.”
Michel Liès will exchange his position as chief marketing officer for a newly appointed role of chairman of the global partnerships committee. He will begin his new role on January 1, 2011.
Christian Mumenthaler—who is currently head of the life & health division—will take on the role of chief marketing officer of reinsurance. His appointment will likewise be on January 1, 2011.
As of October 1, 2010, Agostino Galvagni—who previously held the position of chief operating officer—took on the newly appointed role of chief executive officer of corporate solutions. Corporate solutions is the new name given to all of Swiss Re’s insurance-related offerings.
David Blumer was the final internal executive to move within the company. He added to his existing role as chief investment officer, assuming responsibility for Admin Re on October 1, 2010.
Aside from the internal shake-up, Swiss Re has appointed two new executives.
The current chief risk officer, Raj Singh, has decided to leave Swiss Re for personal reasons, effective February 28, 2011. David Cole will succeed him—joining the company on November 1, 2010. David was appointed as head of group risk management for ABN AMRO Bank, and subsequently chief financial officer and chief risk officer.
Thomas Wellauer accepted the role of chief operating officer and joined the company on October 1, 2010. Thomas previously held the role of CEO at Credit Suisse Financial Services, CEO of Winterthur Insurance and has been a member of the supervisory board at Munich Re.
