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Swiss Re's Board of Directors announces that Chief Investment Officer David Blumer has decided to leave the company, effective 1 November 2012. A successor will be announced in due course. David Blumer joined Swiss Re in May 2008 as Head of Asset Management and member of Swiss Re's Executive Committee. In addition, he assumed in October 2010 the role of Chairman of Admin Re®, Swiss Re's Business Unit responsible for acquiring closed blocks of life insurance business. Walter B. Kielholz, Chairman of the Board of Directors, says: "The Board of Directors very much regrets David'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. 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®." Prior to joining Swiss Re, David Blumer had been a member of the Executive Board at Credit Suisse. Born in 1968, David Blumer is a Swiss citizen and a graduate in economics of the University of Zurich. |
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