SWITZERLAND - Former Swiss Re chairman Peter Forstmoser has joined the board of Swiss Foundation for International Real Estate Investments (AFIAA).
Forstmoser joins from the law firm Niederer Kraft & Frey where he was a partner. He is also president of finance and credit company Hesta and Hesta Tex and a member of the administrative board of Mikron Holding at PSP Swiss Property.
Previously he was on the board of directors at Swiss Re for 19 years. He became chairman of the firm in 2000 but stepped down in 2009 when the company restructured its management following losses of CHF864m ($912.6M) in 2008 and a -3.4% return on equity driven by investment losses.
AFIAA said in a release: "Forstmoser's arrival guarantees the responsible and conscientious handling of funds on behalf of pensioners and the sustainability of AFIAA's investment policy."
AFIAA is an investment foundation owned by 20 Swiss pension funds which focuses on international commercial real estate.
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