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Swiss Re appoints new head of financial services

Swiss Re has revealed the appointment of Roger Ferguson as head of financial services and member of Swiss Re's executive committee.

Mr Ferguson will assume the leadership of financial services and become a member of the executive committee with immediate effect. He joined Swiss Re from the US Federal Reserve Board as chairman of Swiss Re America Holding in June 2006. He will continue in that role.

As head of financial services, Mr Ferguson will have overall responsibility for Swiss Re’s proprietary asset management unit, which has CHF160 billion in assets under management. Mr Ferguson will also be responsible for the capital management and advisory, and credit solutions divisions at Swiss Re.

Swiss Re’s CEO, Jacques Aigrain, commented: I am delighted that we were able to attract Roger Ferguson for this enhanced executive responsibility. Our financial services business will greatly benefit from his outstanding expertise in the financial markets. His vision, intellectual and managerial talent, and experience as a former vice chairman of the Federal Reserve are a welcome contribution to our executive committee.