David Blumer, Swiss Re's Chief Investment Officer has decided to leave the company, effective Nov. 1, 2012, according to the company’s board of directors. A successor has not been announced.
Blumer joined the company as head of asset management and a member of the executive committee in May 2008. He assumed the role of chairman of Admin Re, the company’s business Unit responsible for acquiring closed blocks of life insurance, in October 2010. Previously Blumer was a member of Credit Suisse’s executive board.
"The Board of Directors very much regrets David's decision to leave Swiss Re after more than four years of successfully leading Asset Management,” said Walter Kielholz, chairman of the board of directors. “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 U.S. business of Admin Re."
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