The Zurich Insurance Group announced that Cecilia Reyes, currently Chief Investment Officer and Regional Chairman of Asia Pacific, will become Chief Risk Officer, effective July 1, 2015, succeeding Axel P. Lehmann. Urban Angehrn, currently Head of Alternative Investments, will become Chief Investment Officer, also effective July 1, 2015.
“After almost 20 years of highly successful work at Zurich, nearly 14 of which were as a member of the Group Executive Committee, Axel P. Lehmann, Chief Risk Officer and Regional Chairman of Europe, Middle East and Africa, has decided to pursue new opportunities outside of Zurich,” said the announcement. He will leave the company by the end of this year.
Zurich also said Lehmann would “remain Regional Chairman of Europe, Middle East and Africa, Chairman of the Board of Directors of Farmers Group, Inc. and of Zurich Insurance plc (Ireland), until a successor for each of these roles has been appointed.”
Reyes has been Chief Investment Officer and a member of the Group Executive Committee since 2010. In April 2015, she assumed additional responsibility as Regional Chairman of Asia Pacific, a role that she will keep.
In addition to taking over the role of chief investment officer Angehrn (50, Swiss citizen), has also been appointed a member of the Group Executive Committee effective July 1, 2015. He joined Zurich in 2007 as Regional Investment Manager for Europe. Before he was appointed to his current role, he was Head of Strategy Implementation in Investment Management from 2010 until 2012.
Zurich’s CEO Martin Senn thanked Lehmann “for his dedicated and outstanding service to Zurich in the last 20 years;” adding that “as a longstanding member of the Group Executive Committee he helped to shape the company as we know it today. While I deeply regret his departure, I wish him all the best for the future.”
He also expressed his delight at Reyes new appointment; noting that she had “very successfully managed our $200 billion investment portfolio in times of market volatility and declining interest rates. Her in-depth knowledge of Zurich and her leadership position her well for this new role.”
Senn also welcomed Angehrn to the Group Executive Committee, indicating that his “profound knowledge of the capital markets and Zurich’s investment management approach make him the perfect match for this position. Urban’s appointment is also a proof point for our strong internal talent pipeline. I wish him all the best in his new role and look forward to working with him.”
Source: Zurich Insurance Group
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