XL Catlin has chosen a former Citibank CEO as its new, post-merger chairman of the board.

Eugene McQuade will fill the top board slot after having served as a director with parent XL Group since 2014. He replaces Robert Glauber as board chairman, who served in that slot since 2009 but will remain as a board director and chairman of the Risk and Finance Committee.

McQuade said in prepared remarks that he looks forward “to helping guide XL through this new exciting phase of its growth.”

He also credited Glauber with helping XL refocus on property/casualty and specialty products in global insurance and reinsurance, and on helping to guide XL’s recent $4 billion acquisition of Catlin Group Ltd., which closed May 1.

McQuade has a long history in finance. Beyond his role once running Citibank, he recently retired as vice chairman of parent Citigroup. McQuade was also previously president of Bank of America Corp., and president and CEO of FleetBoston Financial Corp., among other positions.

The global insurer/reinsurer debuted its XL Catlin name on May 4, through the XL Group moniker remains as the parent company name.

Source: XL Group/XL Catlin

Topics AXA XL