XL Capital Assurance Inc. has appointed Sohail Rasul as head of its Structured Investment Products (SIP) group, underscoring XLCA's focus on CDO products.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
XL Capital Assurance Inc. is a triple-A rated financial guarantee insurance company. Rasul, who will relocate to <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />New York from XLCA's London office, has led XLCA's CDO business in Europe since joining the company in 2001.
He previously spent 13 years as a vice president in capital markets for J.P. Morgan, where, in his last position, he originated and structured asset-backed structured finance transactions. He also spent several years in J.P. Morgan's credit business, primarily in loan syndication and credit risk management.
XLCA's SIP group guarantees a broad range of structured funds, including collateralized debt obligations (CDOs), and offers a broad range of services to this market - including sourcing, planning and execution; credit enhancement; synthetic structuring; and collateral analysis and selection.
Commenting on the appointment, Edward B. Hubbard, president and chief operating officer of XLCA, said, "Sohail is well known in the banking and investor community. His experience and network of relationships will add significant value as we continue to build our CDO business."
Rasul added, "I have been fortunate to be a part of the team that built XLCA's structured investment products business into the franchise it is today and we expect 2005 to be our strongest year ever. We continue to expand the ways in which we work with our clients to meet their structured finance challenges, and we look forward to continuing to enhance our existing client relationships while developing new ones."
Rasul replaces David E. Czerniecki, who transferred to XLCA's affiliate, XL Capital Investment Partners.
XL Capital Assurance Inc. (XLCA), rated triple-A by Moody's Investors Service, Standard & Poor's Ratings Services, and Fitch Ratings, is a full-service monoline financial guarantee company focusing on global infrastructure, power & utilities, US public finance, consumer and commercial asset securitization, and structured investment products.
XLCA is an indirect, wholly owned subsidiary of XL Capital Ltd (NYSE: XL), which, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.