Swiss Re Appoints Michel Lies As New Chief Executive Of The Company

Swiss Re BuildingSwiss Re, the world’s second largest reinsurer, said on Thursday that Michel M. Liès will take over as the company’s chief executive from Feb. 1.

Mr. Liès, currently chairman of Swiss Re’s global partnerships division, succeeds Stefan Lippe, who announced in December that he would be stepping down.

Mr. Lippe had been the company’s chief executive since 2009, when he took over after Swiss Re suffered $8 billion of writedowns and losses due to a strategy of securities trading under former chief Jacques Aigrain.

Mr. Liès has worked for Swiss Re, based in Zurich, for more than 30 years. Before his position as head of the global partnership unit, where he oversaw relationships with governments, he was head of the company’s client markets business. Mr. Liès joined Swiss Re’s executive committee in 2005, and also has held positions across Europe and in Latin America.

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