Bermuda-based insurer and reinsurer Argo Group International Holdings, Ltd. has announced the addition of Carol A. McFate to its Board of Directors.
McFate retired from Xerox Corporation in 2017 after serving as Chief Investment Officer for more than a decade. During this time, she was responsible for the insourcing, oversight and management of retirement investments for the U.S., Canada, and the UK.
Before Xerox, McFate held numerous senior finance and investment management positions across the insurance sector over the best part of two decades, including serving as Senior Vice President, Prudential Investment Corp., Vice President and Treasurer of AIG, and Executive Vice President and Global Treasurer of XL Global Services.
In June 2019, she was appointed to the board of Rent-A-Center, Inc., where she serves on the Audit & Risk Committee and the Nomination & Corporate Governance Committee. She is also on the board of Verger Capital Management, LLC, and serves on the Audit & Compliance, Nominating & Governance and Investment committees.
Argo Group Chairman, Gary Woods, commented: “We’re honored 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.”
The appointment of McFate to Argo’s Board follows a new cooperation agreement with its shareholder, Voce Capital Management, that will see several changes made to the composition of Argo’s Board of Directors.