Bermuda-based business insurer XL Capital Ltd. announced that Clayton Rose has joined the company's board of directors.

Mr. Rose is a Professor of Management Practice at the Harvard Business School and is a former executive of JP Morgan & Co.

While at JP Morgan, he headed each of the global investment banking and the global equities divisions, and served as a member of the firm's executive committee.

During his 20 years with the firm he held management roles in various securities, derivatives and corporate finance businesses and was a founder and architect of the firm's equities business.

At Harvard Business School, Mr. Rose teaches the second year elective, Managing the Financial Firm, a course he created to examine the challenges, opportunities and responsibilities of leadership in the financial services industry in the context of the financial crisis. In addition to his responsibilities at Harvard, Mr. Rose chairs the board of managers of Highbridge Capital Management, a $22 billion hedge fund owned by JP Morgan Chase, and has served as a public company director in the financial services and life sciences industries. He is a trustee of the Howard Hughes Medical Institute, the National Opinion Research Center at The University of Chicago, and a director of public/private ventures.

XL's Chairman Robert Glauber said: "We are fortunate to have Clayton join the Board. He brings the unique perspective of a former senior officer of JP Morgan and of an outstanding teacher of business leadership and the management of financial institutions. The board will benefit from his broad experience as XL works to extend its recent history of success in confronting the global financial challenges."

Mr. Glauber also acknowledged the service of retiring directors Robert Parker and Alan Senter who have served as members of the XL board since 1992 and 1986, respectively. As previously announced, both will retire from the board at the end of the year.