Ferguson was most recently head of financial markets at reinsurer Swiss Re, where he was responsible for its proprietary asset management unit, which managed approximately $200 billion in assets. Prior to Swiss Re, Ferguson was vice-chairman of the board of governors of the US Federal Reserve System.
Swiss Re has appointed David Blumer as a replacement for him, effective from May. He will be based in Zurich. Blumer joins from Credit Suisse, where he was CEO of asset management and a member of the executive board.