XL appoints capital management exec to its board

XL has announced that Edward J. “Ned” Kelly, III has joined the company’s board of directors.

Kelly has extensive international and domestic financial service and board experience, and his previous roles include chairman of Citigroup’s Institutional Clients Group as their CFO, general counsel and secretary of JP Morgan, and managing director of the Carlyle Group.

Commenting on the appointment, XL’s chairman, Robert Glauber, says: “We are thrilled to welcome Ned to XL’s board. We expect that Ned’s extensive and varied experience at several noteworthy financial institutions will bring a unique perspective to the company, particularly in the areas of capital management and strategic execution. We look forward to his future insights and the substantial contributions he will no doubt make.”

Other past posts Kelly held at Citi include head of Global Banking and before that, president and CEO of Citi Alternative Investments. Prior to joining the Carlyle Group, he was chairman, chief executive and president of Mercantile Bankshares and, subsequent to PNC Financial Services Group’s acquisition of Mercantile in 2007, was a vice chairman at PNC. Prior to joining J.P. Morgan, Kelly was a partner at the law firm of Davis Polk & Wardwell, where he specialized in matters related to financial institutions.