Making the move from chief investment officer (CIO) to chief risk officer (CRO) is fairly rare. Traditionally the role of the CIO has been to search for yield, seeking out investments that generate value for the business. On the other side, the CRO has reined in excessive risk-taking and cautiously overseen the deployment of capital. But that might now be an outdated view of the two roles, at least for the most sophisticated insurers.
Cecilia Reyes' move from CIO to CRO at Zurich in April proves