responsAbility Investments, the Swiss asset manager specialising in development investments, has appointed Reto Schnarwiler as new chairman.
Schnarwiler, who has been a member of the board of directors of responsAbility since 2009, succeeds Kaspar Müller, who had held the post of chairman since 2005. During Müller’s term in office, responsAbility developed from a start-up to a leading impact investor regulated by FINMA. Through 15 investment vehicles, responsAbility today manages $3bn of assets under management, 40% of which stems from institutional investors.
Schnarwiler has many years of experience in emerging economies and developing countries – including his work with development organisations and governments in particular. In addition to leading strategic initiatives at Swiss Re, he is a member of the board of directors of APA Insurance Group in Kenya and he chairs the Insurance Council of the African Leadership University.
Müller has served as chairman of the Board of Directors of responsAbility since June 2005. At the time, the company – which was headed by founder Klaus Tischhauser – had five employees and managed $30m of assets – primarily private debt for microfinance institutions. Today, 13 years later, responsAbility is well established as a successful impact investor with 250 employees and $3bn of assets under management. Through 15 investment vehicles, it supplies private debt and private equity to companies in the micro and SME finance, sustainable agriculture and renewable energy space.
Müller will leave the company at the Annual General Meeting of 28 July 2018.