Munich Re has appointed Alex Francois to the new Sydney-based role of Head of Australia and New Zealand Business Development for savings and investments.

The company’s Financial Solutions business provides reinsurance of savings and investment products by assuming the financial market risks of institutional clients who make retail commitments, such as guaranteed minimum investment performance.

Previously the firm has worked with Australian clients in the area from its headquarters in Munich, but expects an on-the-ground presence will build the business, particularly with superannuation funds and life insurers.

“Bringing our savings and investment business to Australia and New Zealand alongside our long-standing presence in other reinsurance business lines is an exciting new step for us as a group,” Financial Solutions Investment Management MD Moritz Seibert said.

Mr Francois was most recently with Deutsche Bank’s asset management arm and has more than 25 years’ experience in sales and distribution across institutional and wholesale markets.

The role includes responsibility for market exploration and regional development of new investment management business.