News

Director Christoph Sievers to return to the private sector

Director Christoph Sievers has informed the Board of Directors of his desire to return to the private sector by the end of 2009. The Board of Directors has accepted this request and thanks Mr Sievers for his good work in transforming ERG into the new SERV organisation. A successor will be announced in due course.

After four years with Director Sievers at the helm, Swiss Export Risk Insurance (SERV) is well positioned and recognised as a competent partner in the export credit insurance business by both exporters and banks. SERV’s modernised product portfolio, effective structures and processes, and strong balance sheet meet the needs of exporters and banks as well as the requirements of the Confederation. This completes the successful transfer of ERG to SERV. Four new products are currently being introduced in connection with the Confederation’s stabilisation measures. They will help to prevent liquidity bottlenecks in processing export orders and lead to lower financing costs.