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The company has also named Rui Marliere as head of its Latin America and Caribbean business.
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He will replace Jonathan Malawer, who held the position for fourteen years and has left to join a new firm focussed on climate risk investments.
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The appointment follows the departure of Mike Hoffmann after a just over a year.
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The former MS Amlin head of reinsurance takes up the CUO role next week.
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The firm said he would oversee transactions and assist in growing AuM.
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Michael Fitzgerald has also been promoted to head of the firm’s North Carolina office.
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The former Bernina Re chief reinsurance investment officer will join Echo Re in March.
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At Lockton Re, Cheney spent the last 18 months as senior broker and co-leader of its property practice.
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In a raft of promotions, Andrew Rippert will become reinsurance CUO and Beatrice Morley head of international reinsurance.
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The former Swiss Re Capital Markets executive will report to ILS unit CEO Paul Schultz.
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The recruit was formerly a portfolio manager at Nephila Capital.
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The former Army captain is expected to remain in the insurance industry.