Swiss Re’s Group Chief Financial Officer David Cole is stepping down from the reinsurance firm and will be replaced by the company’s Group Chief Strategy Officer, John Dacey.
Effective April 1st 2018, Dacey will succeed current CFO David Cole, who will step down to follow a non-executive career, including remaining a board member of a number of Swiss Re subsidiaries.
Dacey joined Swiss Re’s Group Executive Committee in 2012 as Group Chief Strategy Officer, leading numerous strategic initiatives across the Group.
He has had a 20 year career in the insurance and reinsurance industry, serving from 2007 to 2012 as AXA’s Group Regional CEO and Group Vice Chairman for Asia-Pacific and as a member of its Group Executive Committee. He has also been a member of the Group Executive Board at Winterthur Insurance, as Chief Financial Officer from 2000 to 2004 and as Chief Strategy Officer from 2005 to 2007.
Swiss Re Chairman, Walter B. Kielholz, commented on the change, “We are grateful for David’s leadership and outstanding contribution to Swiss Re over seven years. As Group Chief Financial Officer, he has transformed our Finance division into an efficient allocator of capital across the Group. While we will miss having him in our Group Executive Committee, we are delighted that he will stay involved with Swiss Re and that we will continue to benefit from his experience.
“John Dacey, who has a very strong track record both within and outside Swiss Re, is the ideal candidate to pick up on the momentum created by David Cole and lead our Finance division forward. He has been instrumental in shaping Swiss Re’s strategic framework and launching the Swiss Re Institute – both of which strongly position Swiss Re as the leading risk knowledge company.”
As a result of the changes, Swiss Re is merging the CFO and Strategy roles, so from April 1st 2018 Group Chief Financial Officer and Group Chief Strategy Officer will be merged and Swiss Re’s Group Executive Committee will consist of 12 members.
