XL Capital Ltd announced today that it has appointed Jacob D. Rosengarten as executive vice president and chief enterprise risk officer for the XL group of companies.

The company said Mr. Rosengarten, a Goldman Sachs managing director, will join XL on Sept. 15 where he will be responsible for ensuring the efficient identification, assessment, monitoring and reporting of key risks across the XL group.

Mr. Rosengarten will be reporting directly to Michael S. McGavick, XL's chief executive officer. He will chair XL's Enterprise Risk Committee, which is comprised of the company's top risk management professionals, and will provide information to XL's Board of Directors and executive management with respect to enterprise risk management policies and procedures, the announcement said.

Mr. Rosengarten, XL said, has held several leadership roles in risk management during a 30-year career, including managing director of risk management and analytics for Goldman Sachs Asset Management for the past 10 years.

Prior to this, from 1993 to 1997, he was director of risk and quantitative analysis at Commodities Corporation, which was acquired by GSAM in 1997 and is now GSAM's Hedge Fund Strategies Unit.

Mr. McGavick said, “This appointment demonstrates XL's commitment to excellence in enterprise risk management. This has been a core pillar of XL's business, and while much progress has been made at XL, we know we can do better and, working with Jacob, this remains one of my key areas of focus.”

He said Mr. Rosengarten would add a “wealth of knowledge and experience in enterprise risk management to our reorganized leadership in risk underwriting and management.”

Special Reports /

XL Adds ERM Expert Rosengarten As CERO

Related Stories

Recommended For You