By Muskan Arora
Zurich
Financial Services Australia has promoted its deputy chief investment
officer Yile Chen to the role of chief investment officer, replacing Matthew
Drennan.
Drennan has been serving as a CIO since late 2022.
Chen will report to Justin Delaney, CEO of Zurich Australia
and New Zealand and Matt Vincent, APAC regional CIO.
Chen, who has worked with the global giant for almost six
years, will now the lead the investment team across multiple asset classes
including fixed income, credit, equity and direct property. The new CIO has
held multiple roles at the firm including interim chief investment officer and
head of securities.
Prior to joining Zurich, Chen worked as a portfolio manager
of fixed income and currency at Macquarie Group for almost nine years, handling
three portfolios worth A$13B.
He has also worked as a consultant at AMP Capital Investors and as a derivatives advisor at MF Global.
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