UBS CEO Sergio P Ermotti is to become chairman of insurance giant Swiss Re, the reinsurer said.
Ermotti is set to join the Swiss Re board next month and become chairman in 2021.
He has been group CEO and a member of the group executive board of UBS Group since 2011.
Sergio P Ermotti
* 2011-present Group CEO and member
of the Group Executive Board of UBS
* 2007-2010 Deputy CEO at UniCredit and responsible for the business areas of corporate and investment banking, and private banking
* 2001 Co-head of global equity markets at Merrill Lynch and a member of the executive management committee for global markets & investment banking
* 1987 Began professional career at Merrill Lynch, holding various positions in the areas of equity derivatives and capital markets
* Swiss citizen
* Swiss-certified banking expert
* Graduate of the Advanced Management Programme University of Oxford
Ermotti will succeed Walter Kielholz, a former chairman of Credit Suisse who has been on the board of the insurer for more than two decades and chairman since 2009.
Walter B Kielholz
SWISS RE CAREER
* 2011 Elected to the Board of Directors of Swiss Re Ltd
* 2009-present Chairman of Swiss Re
* 2003-2009 Vice Chairman of Swiss Re
* 1998 elected to the Swiss Re Board of Directors of Swiss Reinsurance Company Ltd
* 2003-2009 Chairman of Credit Suisse
* 1999-2014 Member of Board of Credit Suisse
* 1997-2002 CEO of Swiss Re
* 1993 Swiss Re Executive Board member
* 1989 joined Swiss Re
* 1986 joined Credit Suisse
* 1976 began career at the General Reinsurance Corporation, Zurich
* Vice Chairman of the Institute of International Finance
* Member of the European Financial Services Roundtable
* Chairman of the Zurich Art Society
* Business Finance and Accounting degree,
University of St.Gallen, Switzerland
Kielholz said: “Sergio Ermotti’s wealth of experience and an impressive leadership track-record will be important assets for Swiss Re. His appointment will ensure a smooth leadership transition when I retire after the AGM in 2021, and I look forward to working closely with him until then.“
Ermotti said: “As a company centred around knowledge and risk expertise, Swiss Re is a truly inspirational financial institution. I look forward to working together with the board and the management team to take the company into the next successful chapter of its history.
“I am honoured to be following in the footsteps of Walter Kielholz, who over the past decades immensely furthered the development not only of Swiss Re, but the entire Swiss financial centre.”