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Breaking News: Vereker appointed to board of XL Capital

Sir John Vereker

Former Governor of Bermuda Sir John Vereker has been appointed to the board of directors of Bermuda-based insurer XL Capital Ltd.

Sir John, who retired as Governor in October after holding the post since 2002, had previously been the UK's Permanent Secretary of the Department for International Development and of its predecessor the Overseas Development Administration since 1994.

XL Chairman Michael P. Esposito, Jr., said: "I am pleased to welcome Sir John to the XL Board of Directors. I believe that his experience will complement the Board's diversity in terms of skills and experience. I look forward to working with him and I am confident that his international expertise will be valuable in continuing to build XL's global leadership position in the years ahead."

Over the years, Sir John's career has included working in the World Bank, serving as Private Secretary to three UK Ministers of Overseas Development, working on public sector issues in the Policy Unit of the British Prime Minister's Office and serving as Deputy Secretary for the Department of Education and Science.

He has been a Board Member of the British Council, the Institute of Development Studies, the Institute of Manpower Studies and Voluntary Service Overseas. He has served on the Advisory Councils for the Centre for Global Ethics and for the British Consultancy and Construction Bureau.

He has also been an adviser to the UN Secretary-General's Millennium Development Project. Earlier this year, Sir John served as a member of the Volcker panel, which investigated the World Bank's institutional integrity.