Swiss Re to lose CIO in November

Swiss Re has announced the departure of David Blumer, the firm’s current chief investment officer.

Blumer, who will leave on 1 November 2012, joined Swiss Re in May 2008 as head of asset management and a member of Swiss Re's executive committee.

Walter B. Kielholz, chairman of the board of directors, said that the board of directors very much regrets Blumer's decision to leave Swiss Re after more than four years of successfully leading asset management.

“Under his leadership, Swiss Re's asset management has focused on a prudent asset-liability matched approach and has delivered excellent investment returns, despite turbulent financial markets,” he said.

“Asset management is exceptionally well-placed to continue to support Swiss Re's new corporate structure and in achieving Swiss Re's five-year financial targets. Our Admin Re Business Unit has also greatly benefited from David's expertise, not least in the context of the recent sale of the US business of Admin Re.”