Former top Federal Reserve official Roger W. Ferguson Jr. was named chairman of Swiss Re America Holding Corp. and a member of Swiss Re's executive board today.
Mr. Ferguson, who left his Federal Reserve Board of Governor's vice chairman post in April, succeeds Jacques Dubois, who will retire by the end of 2006. He will join Swiss Re next month and be based in New York and Washington D.C.
Mr. Ferguson will also become Swiss Re's financial market strategist, advancing the company's strategy of intermediating insurance risk through the capital markets.
As chairman of Swiss Re's holding company for its property-casualty and life and health business in the Americas, Mr. Ferguson will supervise Swiss Re's operations in the Americas and serve as the company's U.S. representative for all regulatory and governmental bodies.
He will also become a member of the executive board, reporting to CEO Jacques Aigrain.
In addition, Mr. Ferguson will become the group's financial market strategist, providing long-term direction to Swiss Re's proprietary investment portfolio of approximately $129 billion.
Mr. Ferguson joined the Federal Reserve Board as a governor in 1997. Earlier Mr. Ferguson was an associate and partner at McKinsey & Company Inc. and an attorney at Davis Polk & Wardwell.
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