Switzerland’s PUBLICA names new director

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SWITZERLAND - The 28 billion-Swiss franc (18 billion-euro) Swiss Federal Pension Fund PUBLICA has named Werner Hertzog as director.

Hertzog, currently head of collective insurance at the National Swiss Federation of Insurance, succeeds Peter Dueggeli.

The new director, who was president of the Regional Pension Funds of Basel between 1997 and 2002, would bring “know-how, experience and knowledge in the fields of finance, real estate management and strategic business management and, not least, people management,” PUBLICA said.

Dueggeli, director of the pension fund since October 2000, is to take a post in “another capacity” said Josef Durrer, president of the fund commission.

Durrer also said it was not yet possible to determine when Hertzog would join. He’s still in his old job. Dueggeli will step down on June 30 as he intends to take on a new career challenge.

PUBLICA last year announced a change in investment strategy, saying the strategy implemented in 1999 no longer suited its risk profile. A spokesman at the fund said that allocation to bonds has been increased.

PUBLICA, the fund for Swiss government employees, changed its name from PKB - Pensionskasses des Bundes - in July 2003.

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