XL Group announced recently that Group Controller Stephen Robb will succeed retiring Peter Porrino as Chief Financial Officer (CFO), effective May 1st, 2017.
Following his retirement, Porrino will continue to work as an advisor to Chief Executive Officer (CEO) Mike McGavick on a part-time basis.
Commenting on the announcement, McGavick said; “First of all, personally and on behalf of the Leadership Team and our Board of Directors, I’d like to thank Pete for his valuable contributions to XL as an advisor prior to joining in 2011 and subsequently as a strategic steward of the Company’s finances and an insightful business partner.
“During Pete’s tenure as CFO he has been instrumental in our most significant achievements, including our 2014 life retrocession transaction, the successful Catlin acquisition, the implementation of our Enterprise Enablement management information project and XL’s redomestication to Bermuda.”
“He is highly respected for his considerable intellect, astute judgment, wealth of knowledge and experience. There are few that understand the way XL is built as deeply as Steve and we’re confident that he will only continue the transformation of the CFO role that Pete has led.”
Robb has worked with XL since 2004, acting in leadership positions including responsibility for accounting policy, budgeting and planning, treasury functions, rating agency relationships, corporate financial close, financial regulatory reporting and finance risk and controls matters.
Before joining XL, he worked as Senior Manager and Insurance Industry Group Leader at PricewaterhouseCoopers.