Swiss Re picks outsider as next CFO
Adds details, analyst comment
ZURICH, July 31 (Reuters) -Swiss Re SRENH.S announced a new Group Chief Financial Officer on Wednesday, saying Anders Malmstrom will replace John Dacey when the 64-year-old retires next year.
The move is the first major management change at Swiss Re, the world's second biggest reinsurance company, since Andreas Berger took charge on July 1.
Malmstrom will join Swiss Re in early 2025 from Athora Holdings, a European savings and retirement services group, where he been group CFO since May 2021, the Zurich-based company said.
"We are pleased to have found a seasoned leader, with deep expertise in finance and the insurance industry, in Anders Malmstrom," said Swiss Re Chairman Jacques de Vaucleroy.
"We are convinced that he is the right person to take the Finance function forward after an orderly transition."
Before joining Athora, Malmstrom was Senior Executive Vice President and CFO of Equitable Holdings in New York.
Before that, the 56-year-old Swiss-Finnish double citizen was Senior Executive Director and CFO at AXA U.S., member of the executive board and Head of the Life business at AXA Winterthur and held senior leadership roles at Swiss Life Group.
Zuercher Kantonalbank said the announcement was not a surprise, given Dacey's age.
Dacey, who has been CFO at Swiss Re since 2018, will retire from his executive role at the company on March 31, 2025.
"The choice of an external candidate can be refreshing," said Bank Vontobel analyst Simon Foessmeier. "Swiss Re apparently benefited from hiring Andreas Berger externally."
Reporting by John Revill, editing by Miranda Murray and David Evans
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