Angehrn joined the Swiss group in 2007 as regional investment manager for Europe, after leaving French rival Axa, and has served as head of alternative investments for the past three years.
Martin Senn, Zurich's chief executive officer, welcomed him to the group's executive committee and praised his ability and experience.
"Urban's profound knowledge of the capital markets and Zurich's investment management approach make him the perfect match for this position. His appointment is also a proof point for our strong internal talent pipeline," he said.
Reyes has been appointed chief risk officer (CRO), replacing Alex Lehmann, who is leaving the company after 20 years.
