Ms. Street was formerly a Managing Director for J.P. MorganChase, where she was responsible for the corporate finance practice for alternative asset managers and hedge funds for the past eight years. She was with J.P. MorganChase and its predecessor organisation for over 16 years, based in London and New York. Prior to heading up the hedge fund investment banking practice, Ms. Street worked in commodity derivatives and risk management and had client coverage responsibilities for commodity trading companies.
Additionally, Thomas B. Burke, a longstanding member of the hedge-fund team at J.P. MorganChase, will be joining XL Capital Investment Partners as a Vice President.
Robert R. Lusardi, Chief Executive Officer of XL's Financial Products and Services operations, said: "Having made a number of successful strategic investments with alternative asset managers, XL Capital is now focussed on building this effort into a broadly-based alternative asset management business. We believe that Sarah's operations will be an integral part of the continuing expansion of XL's financial activities and will work closely with XL's investment, life and financial guarantee operations to create new investment oriented products."
Christopher V. Greetham, Executive Vice President and Chief Investment Officer of XL, said: "We are delighted to have Sarah Street join XL. We were looking for an innovative leader in the field of alternative asset management and Sarah's impressive track record and reputation made her the ideal candidate. Her extensive knowledge and experience will be of enormous value in leading the team pursuing this exciting business initiative."
XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As at December 31, 2000, XL Capital Ltd had consolidated assets of approximately $16.8 billion and consolidated shareholders' equity of approximately $5.6 billion. More information about XL is available on www.xlcapital.com
This press release may contain forward-looking statements. Such statements are based on current plans, estimates and expectations and, accordingly, involve inherent risks and uncertainties including, but not limited to, business and financial risks associated with the operations of XL Capital Investment Partners. Additional risk factors identified in XL's most recent annual report on Form 10-K and other documents on file with the Securities and Exchange Commission could cause actual results to differ materially from those contained in forward-looking statements. XL Capital does not undertake any duty to update publicly any forward-looking statements contained herein in light of new information or future developments.