Zurich names Senn as boss

Zurich has appointed its Swiss chief investment officer Martin Senn (52) to take over as chief executive following the retirement of James Schiro at the end of the year.

“Martin is an engaging, thoughtful and results-oriented leader who is ideally suited to build on and further develop Zurich’s successful strategy,” said Manfred Gentz, chairman of Zurich’s board of directors.

“His extensive international exposure and diverse operational experience have prepared him well for tackling the challenges of leading a global firm, while his demonstrated focus on people management, proven commitment to corporate responsibility and deep knowledge of capital markets shows he appreciates the delicate stakeholder balance and knowledge of customers’ needs required for sustained profitable success.

“We are confident he is the right leader for Zurich’s next phase of success, and are proud that his selection illustrates the depth and strength of Zurich’s management team.”

Merchant banker

Prior to joining Zurich, Senn served in senior leadership positions with Swiss Life, Credit Suisse and Swiss Bank Corp (now UBS), serving in financial, operational and investment related roles in Europe, Asia and North America.

“It is an honour to be asked to lead a company with such a rich and successful history as Zurich,” he said. “I am looking forward to working with all 60,000 employees to build on our successful strategy and make the most of the opportunities we have created for ourselves.”

Multicultural leadership

Zurich claimed the decision was unanimous. Gentz said: “A proven ability to engage multi-cultural teams will be a key success factor for future CEOs in this global economy, and Martin has shown he can listen and act with proven results.”

“In addition, his success in managing our assets to effectively match our liabilities illustrates his in-depth understanding of the complexities of the insurance business.”

Senn starts on 1 January 2010.