This new orientation was the subject of insurmountable differences of opinion between Swiss Life and part of the Swiss Life Private Equity Partners management. Swiss Life is therefore severing its ties with David Salim, Chief Executive Officer of Swiss Life Private Equity Partners, and Thomas Grotzer, Chief Operating Officer of Swiss Life Private Equity Partners, with immediate effect. Peter Derendinger, designated member of the Swiss Life Private Equity Board of Directors, is assuming responsibility for the unit's operations.
Swiss Life Private Equity Partners is a wholly owned Swiss Life subsidiary specialising in asset management and investment consulting in the private equity sector. Its mandates include managing the portfolio of Private Equity Holding, a company traded on the stock exchange.
The Swiss Life Group is one of Europe's leading providers of long-term savings and protection and life insurance. The Swiss Life Group offers individuals and companies comprehensive advice and a broad range of products via agents, brokers and banks in its domestic market, Switzerland, where it is market leader, and selected European markets. Multinational companies are serviced with tailor-made solutions by a network of partners in over fifty countries.
The Swiss Life Group, registered in Zurich, was founded in 1857 as the Swiss Life Insurance and Pension Company. Shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The company employs around 12 000 persons.