New Credit Suisse chairman outlines priorities

Kielholz is confident about Credit Suisse's future prospects Keystone

The newly-elected chairman of Credit Suisse Group, Walter Kielholz, has pledged to realise the company's full potential.

Kielholz said his “immediate priority will be to address the challenges created by the difficult market environment facing the entire financial services industry”.

His appointment follows Lukas Mühlemann’s decision to step down as chairman and CEO at the end of 2002.

Kielholz praised his predecessor for establishing a strong presence in the areas of asset management and investment banking.

“Credit Suisse Group has a solid foundation of sound business fundamentals and a strong global platform on which to build for the future,” he said.

Business background

Born in 1951, Kielholz, who lives in Zurich, is currently vice-chairman of the CS Group board of directors and chief executive officer of Swiss Re.

He studied business administration at the University of St Gallen and graduated in 1976 with a degree in business finance and accounting.

His career began at the General Reinsurance Corporation. After working in the US,
the UK and Italy, he assumed responsibility for the company’s European marketing.

In 1986, he moved to Credit Suisse, where he was responsible for client relations with large insurance groups in the Multinational Services department.

Marketing and underwriting

Walter Kielholz joined Swiss Re at the beginning of 1989, as Head of the Japan and Far East section.

In this role, he was responsible for coordinating marketing and for underwriting property and casualty business.

At the beginning of 1992, he was also assigned responsibility for the parent company’s reinsurance business in the US and the UK.

In January 1993, Walter Kielholz was elected to the Executive Board of Swiss Re. He was appointed to the Executive Board Committee in April 1995 and was named CEO of Swiss Re on January 1, 1997.

In June 1998, he was elected to the board of directors and subsequently appointed managing director.

Other posts

Kielholz also serves as a member of the boards of directors of Winterthur, the Swiss Insurance Company; Euler, Paris; PartnerRe, Bermuda; and Allied World Assurance Company Ltd., Bermuda.

In addition, Mr Kielholz is President of the International Association for the Study of Insurance Economics – the Geneva Association; President of the Foundation, Avenir Suisse and Chairman of the Zürcher Kunstgesellschaft.

swissinfo