FWD Group (“FWD”), the insurance arm of Pacific Century Group (“PCG”), is pleased to announce the appointment of Professor Frederick Ma Si-Hang, GBS, JP as an Independent Non-Executive Director to the Board.
Professor Ma has a long and distinguished career in the private and public sectors, and will add considerable insight to the development of the FWD business. Mr. Ma’s appointment follows that of FWD’s Chairman, the Honourable Ronald Arculli in October, as the company continues its process of establishing and strengthening the role of the Board in providing governance and counsel to FWD’s professional management team.
In the public sector, he was formerly in the Hong Kong SAR Government as the Secretary for Financial Services and the Treasury, and Secretary for Commerce and Economic Development. He brings with him deep experience in the banking and financial sectors, having assumed different positions of seniority in various local and overseas banks and financial institutions, including Chase Manhattan Bank, Royal Bank of Canada Dominion Securities and JP Morgan Chase.
Mr Arculli said, “I am delighted to have Professor Ma join as a member of the Board. It is a great honour to have someone of his calibre and experience to provide oversight and advice as FWD grows.”
In addition, following the earlier announcement on 16 October 2013, FWD today confirms that it has received the necessary regulatory approvals to enable Swiss Re to acquire an initial 12.3% shareholding in FWD.
About Swiss Re Group
The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk-taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of over 60 offices globally and is rated "AA-" by Standard & Poor's, "A1" by Moody's and "A+" by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed on the SIX Swiss Exchange and trade under the symbol SREN. For more information about Swiss Re Group, please visit: www.swissre.com or follow us on Twitter @SwissRe.