Zurich names new CIO

Zurich Financial Services Australia has appointed Matthew Drennan investment chief, effective1 December.

He replaces Christian Choi who joined life insurer  Ageas in August as regional director ALM, Investment and capital management.

Drennan's previous role was head of savings and investments for Zurich Australia.

Here, he was responsible for overseeing the group's unit-linked investments business comprising ten funds.

He is also a member of the Australian executive committee, the compliance committee and several investment committees within the group.

Zurich said he brings a wealth of financial market knowledge and experience to the role having worked as a senior economist for the NSW Treasury, Deutsche Asset Management, chief investment officer at Shadforth Financial Group and head of research and portfolio construction at IOOF.

Drennan has taken a ten-year break from Zurich as he previously worked there as executive general manager of investments for nine years.