Insiders

Swiss Life announces CEO change

December 04, 2023 at 03:41 am EST

ZURICH (Reuters) - Swiss Life chief executive Patrick Frost will step down in May 2024, Switzerland's biggest life insurer said on Monday.

Frost, who has held the CEO role for ten years, will be replaced by Swiss Life's current finance chief Matthias Aellig, effective May 16, the company said in a statement.

The company's shares were down 1.7% in early morning trading.

"We regret Patrick Frost's retirement as CEO," Vontobel analyst Simon Foessmeier said.

"A significant part of Swiss Life's success in recent years has been the quality of the management team."

Swiss Life Chairman Rolf Doerig said incoming CEO Aellig had "played a key role in helping Patrick Frost shape the strategy of the entire Group".

Swiss Life also announced the promotion of Marco Gerussi to CFO and additional leadership changes at Swiss Life Germany.

(Reporting by Noele Illien, Editing by Rachel More)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	SWISS LIFE HOLDING AG	622.5 CHF	+0.76%	+1.27%	19.46B

Patrick Frost

Dr. Patrick Frost is a Group Chief Executive Officer at Swiss Life Asset Management AG, at Swiss Life Holding AG, a Member-Financial Services Chapter Board at American Chamber of Commerce Executives, Inc., and a Member-Management Board at Economiesuisse. He is on the Board of Directors at Roche Holding AG, F. Hoffmann-La Roche Ltd., Swiss Innovation Park Foundation, Zürcher Volkswirtschaftliche Gesellschaft ZVG, Zurich Chamber of Commerce, Stiftung Technopark Zurich, TECHNOPARK Immobilien AG, and Technopark Management AG. In 2006 Mr. Frost was appointed Member of the Corporate Executive Board and Group Chief Investment Officer of Swiss Life and in this capacity was responsible for the investment management of the Swiss Life Group. Since 1 July 2014, he has been Group Chief Executive Officer (Group CEO) of the Swiss Life Group. He began his career in the mid-nineties as an analyst and subsequently as a Portfolio Manager in asset management for Winterthur Group. After two years in the US as a Corporate Bond Manager, he was appointed Head of Fixed Income at Winterthur Group in 2001. He studied at the ETH in Zurich and the universities of Cologne, Basel, and Zurich, obtaining degrees in natural science (dipl. Natural Science (dipl. Natw. ETH), economics (Dr. rer. pol.), and law (lic. iur.)).

View full profile

Linked companies
SWISS LIFE HOLDING AG	Chief Executive Officer
Swiss Life Asset Management AG Swiss Life Asset Management AG Investment ManagersFinance Swiss Life Asset Management AG (SLAM) is a wholly-owned subsidiary of Swiss Life Investment Management Holding, which is part of Swiss Life Holding AG (SWX: SLHN). The firm was established in 1988 and is located in Zürich, with sister offices in France, Germany, and Belgium. SLAM manages part of the insurance assets of the group, as well as third-party mandates, providing investment management services for institutional clients. In particular, the firm distributes institutional funds specifically intended for pension schemes, accessible to other institutions.	Chief Executive Officer

Linked companies

SWISS LIFE HOLDING AG

Chief Executive Officer