CelsiusPro AG, the Swiss-based specialist in structuring and originating weather derivatives and weather risk management products, has announced that ex-Swiss Re CEO Stefan Lippe and UBS banker Jürg Haller have joined the CelsiusPro board of directors.
Mark Rüegg, founder and CEO of CelsiusPro AG, is stepping back from his position as Chairman of the firm and Stefan Lippe will take on the role of Chairman having been voted into the position by the board.
The two new board members bring a wealth of insurance, reinsurance and banking experience to CelsiusPro and will no doubt assist in the next stage of the firms growth. The addition of the two board members is expected to strengthen CelisusPro’s position in the weather risk management market and will aid the development of its strategy.
Lippe, former CEO at reinsurance firm Swiss Re and a board member at insurer AXA, has over 30 years experience in the reinsurance sector. Lippe was named Reinsurance CEO of the year in 2011 by industry publication, Reactions, and was also recognised at the Worldwide Reinsurance Awards in 2013 ceremony with a “Lifetime Achievement Award”.
Jürg Haller is the former Global Head of Products & Services for Global Wealth Management and Business Banking at Swiss investment bank UBS. Haller has a long career in the financial markets and is currently acting as Vice Chairman of UBS Wealth Management and Group Managing Director. Haller was elected as a non-executive board member of CelsiusPro.
CelsiusPro CEO Mark Rüegg said that he is delighted with the addition of two such senior financial market executives to his board; “We are happy to welcome Stefan Lippe and Jürg Haller in our board. Both bring a vast amount of experience and knowledge which will be important to us to further increase our corporate footprint and strengthen our strategy. I look forward to a successful collaboration.”