View more on these topics

Swiss Re appoints new head of board

Swiss Re has appointed Credit Suisse Group AG chairman Walter B Kielholz to head its board of directors.

Kielholz, currently vice chairman of the Swiss reinsurer, replaces Peter Forstmoser, who steps down on May 1.

The move comes after Swiss Re recorded a full-year net loss of £533m for 2008, and was downgraded by rating agency Moody’s last month. Last month also saw the exit of Swiss Re chief executive Jacques Aigrain.

Kielholz says: “In view of the major challenges confronting us, I have decided to concentrate fully on the Swiss Re chairmanship and to relinquish this role at Credit Suisse.

“Even though the current results are disappointing, the core business is intact. I’m confident that at the annual general meeting, shareholders will support our proposals to strengthen the company’s capital base.”

Credit Suisse chief operating officer Urs Rohner has been appointed as vice chairman of the board, replacing Thomas Bechtler.


Remix required for clients

Skandia says advisers should consider repackaging client portfolios for optimum tax-efficiency in the present ultra-low-interest-rate environment.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm