XL President and Chief Executive Officer, Brian M. O'Hara, said: "As XL continues to evolve as a global leader in the insurance, reinsurance and financial products and services businesses, maintaining strong relationships with investors, analysts and rating agencies will become an even more critical responsibility. Scott's experience will be a tremendous benefit to our efforts in this area and he will be an important addition to our senior management team."
Mr. Hoy joins XL from Citigroup where, over an 11-year career, he held senior positions in Citigroup's Corporate and Investment Banking, Strategy and Business Development, and North America Credit Cards businesses. From April 2001 to January 2004, Mr. Hoy was Vice President and Deputy Head of Citigroup's Investor Relations unit. Most recently, Mr. Hoy was Director, Finance and Strategy of Citigroup's Emerging Markets Corporate Banking Group. Mr. Hoy is a graduate of Harvard University with an AB in Near Eastern Languages and Civilizations.
XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of March 31, 2004, XL Capital Ltd had consolidated assets of approximately $44 billion and consolidated shareholders' equity of approximately $7.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.