Bermudian-based Argo Group has appointed Carol McFate to its board.

“We’re honoured to welcome Carol to our board. This is a year of renewed opportunity for Argo Group, and strong, independent oversight is crucial to taking full advantage of it. Carol’s impressive background and operational experience in finance and investment management — both in the insurance industry and at Xerox — will be pivotal as we write Argo Group’s next chapter,” Gary Woods, Argo Group chairman, said.

McFate retired from Xerox Corporation in 2017, having served as chief investment officer for more than ten years. During that time, she was responsible for the insourcing, oversight and management of retirement investments for the US, Canada and the UK.

Prior to joining Xerox, she served in a number of senior finance and investment management roles in the insurance industry over nearly two decades, including senior vice-president, Prudential Investment Corp; vice-president and treasurer of American International Group; executive vice-president and global treasurer of XL Global Services, the shared services subsidiary of XL Capital Ltd.

In June, McFate joined the board of directors of Rent-A-Center Inc, where she serves on the audit and risk committee and the nomination and corporate governance committee. In July, she joined the board of Verger Capital Management, LLC, a registered investment manager, and serves on the audit and compliance, nominating and governance and investment committees.