Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Twelve Capital adds two senior portfolio and operations hires


Swiss based Twelve Capital, who operate a number of investment funds and opportunities in insurance-linked securities, catastrophe bonds, private ILS and subordinated insurance bonds, have added two new hires to help strengthen its portfolio risk analysis capabilities and operations management. Announced today, the two new hires are the appointment of Andrew Townend as a Partner and Bruno Müller as Chief Operating Officer at Twelve Capital.

Andrew Townend joins Twelve Capital from reinsurer Swiss Re where he managed credit risk in structured reinsurance contracts for world-wide clients. At Twelve Capital his main responsibilities will be credit assessment of companies issuing bonds with potential for inclusion in the Insurance Bond Funds and the Portfolio Management of those funds. Prior to joining Swiss Re in 2007, Andrew spent four years at JP Morgan working on credit analysis supporting derivatives transactions with counterparties in the EMEA region, and later 3 years with Credit Agricole CIB as Senior Credit Officer for insurance counterparties in the UK and Nordic region. Andrew holds a Masters degree in Finance and Investment and an MBA, both from Cass Business School, London.

Bruno Müller joins from Clariden Leu, where he was responsible for Product Finance & Controlling within Asset Management. Prior to joining Clariden Leu, Bruno spent 12 years at Credit Suisse Asset Management where he held various positions along the entire value chain of asset management, and later 3 years at Bank Leu as Head of Product Management. His main responsibilities at Twelve Capital will be in the Finance and Operations area of the business. Bruno holds a Master of Science in Psychology from University of Zurich and is a Certified EFFAS Financial Analyst and a Chartered Alternative Investment Analyst (CAIA).

Urs Ramseier, Chairman of Twelve Capital, commented; “We are delighted that Andrew and Bruno have chosen to join us. Andrew brings with him many years of specialist experience in credit risk analysis for the insurance market and Bruno adds great strength to our finance and operations function, further enhancing the quality of the service we offer our clients. With the addition of these professionals to our team we substantially augment our credit risk analysis capabilities and further develop our operations infrastructure, leaving us well positioned to continue our current strong growth well into the future.”

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