Navigation

Skiplink Navigation

Main Features

Credit Suisse and Swiss Re shuffle boards

Swiss Re and Credit Suisse both announced a reorganisation of their boards on Monday as Credit Suisse's Walter Kielholz stepped down to become chairman of Swiss Re.

Hans-Ulrich Doerig, vice-chairman at Credit Suisse, will take replace Kielholz, who will stand for re-election as a member with no functional duties.

Kielholz leaves Switzerland's second-largest bank to replace Peter Forstmoser, who will resign from the board on May 1, Swiss Re said.

Swiss Re, the world's largest reinsurer announced a 2008 loss of SFr864 million ($735 million) for 2008 and writedowns of SFr5.9 billion.

"Even though the current results of Swiss Re are disappointing, the core business is intact and its prospects are excellent," Kielholz said in a statement issued by Swiss Re.

In a statement released to announce the changes, Credit Suisse said it had started 2009 off well.

"In view of the bank's very strong capital base, clear strategy, experienced board of directors and excellent management team, the Board believes that this is an appropriate moment to make these changes," it said.


Links

Neuer Inhalt

Horizontal Line


swissinfo EN

Teaser Join us on Facebook!

Join us on Facebook!

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.







Click here to see more newsletters