XL Capital Ltd Announces Appointment of Clayton S. Rose to its Board of Directors
December 17 2009 - 10:30AM
PR Newswire (US)
HAMILTON, Bermuda, Dec. 17 /PRNewswire-FirstCall/ -- XL Capital Ltd
(NYSE: XL) ("XL" or the "Company") today announced that Mr. Clayton
S. Rose has joined the Company's Board of Directors. Mr. Rose is a
Professor of Management Practice at the Harvard Business School and
is a former executive of J.P. Morgan & Co. While at J.P.
Morgan, Mr. Rose headed each of the Global Investment Banking and
the Global Equities Divisions, and served as member of the firm's
executive committee. During his 20 years with the firm he held
management roles in various securities, derivatives and corporate
finance businesses and was a founder and architect of the firm's
equities business. He was also responsible for and served as an
investment committee member of J.P. Morgan's private equity
investment organization, led J.P. Morgan's Diversity Initiative,
and represented the firm during the Long Term Capital Management
crisis in 1998. At Harvard Business School, Mr. Rose teaches the
second year elective, Managing the Financial Firm, a course he
created to examine the challenges, opportunities and
responsibilities of leadership in the financial services industry
in the context of the financial crisis. He also teaches the first
year course, Leadership and Corporate Accountability, and has
taught the second year elective, The Moral Leader. Previously, he
taught strategy at the Graduate School of Business at Columbia
University and the Stern School of Business at New York University.
In addition to his responsibilities at Harvard, Mr. Rose chairs the
Board of Managers of Highbridge Capital Management, a $22 billion
hedge fund owned by JP Morgan Chase, and has served as a public
company director in the financial services and life sciences
industries. He is a trustee of the Howard Hughes Medical Institute,
the National Opinion Research Center at The University of Chicago,
and a director of Public/Private Ventures. Mr. Rose has a Ph.D
(with distinction) in sociology and a MA from the University of
Pennsylvania. He also has an AB and MBA from the University of
Chicago. XL's Chairman Robert Glauber said: "We are fortunate to
have Clayton join the Board. He brings the unique perspective of a
former senior officer of J.P. Morgan and of an outstanding teacher
of business leadership and the management of financial
institutions. The Board will benefit from his broad experience as
XL works to extend its recent history of success in confronting the
global financial challenges." Mr. Glauber also acknowledged the
service of retiring Directors Robert S. Parker and Alan Z. Senter
who have served as members of the XL Board since 1992 and 1986,
respectively. As previously announced, both will retire from the
Board at the end of the year. "Bob and Al have seen the Company
through some very good times and some very challenging ones," Mr.
Glauber said. "We are deeply grateful to them for their dedication
and tireless contributions through their years of service. We wish
them much success in the future." XL Capital Ltd, through its
operating subsidiaries, is a leading provider of global insurance
and reinsurance coverages to industrial, commercial and
professional service firms, insurance companies and other
enterprises on a worldwide basis. More information about XL Capital
Ltd is available at http://www.xlcapital.com/ Contact: David R.
Radulski Carol Parker-Trott Investor Relations Media Relations
(441) 294 7460 (441) 294 7290 DATASOURCE: XL Capital Ltd CONTACT:
David R. Radulski, Investor Relations, +1-441-294-7460; or Carol
Parker-Trott, Media Relations, +1-441-294-7290, both of XL Capital
Ltd Web site: http://www.xlcapital.com/
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