Bangalore, November 18, 2014 Derek Nazareth is the new India Country Manager for the XL Group. He will lead over 900 employees in XL Group’s office in Gurgaon, an office at the heart of delivering complex business support services to the Group.
Nazareth, who has worked in financial services for over 30 years, has held senior roles at the likes of Royal Bank of Scotland (RBS), Citizens Bank, Coutts & Co and NatWest, with responsibility for leading high-profile business development and strategic initiatives. Notably, at RBS he delivered a large change management programme as Head of Retail and Commercial Markets, Non-Core Division, Asia. Originally from India, Mr. Nazareth has significant international experience, having spent the majority of his working life in the UK, with stints in the US and India.
Says Myron Hendry, Executive Vice President and Chief Platform Officer at XL Group: “Derek’s significant experience, and the leadership skills he has acquired over three decades of working in financial services, ideally equip him for this role. Our office in India is one of our largest globally, with staff delivering underwriting support, claims administration, actuarial services, finance and accounting, and more. In his new role, Derek will be responsible for uniting these functions and delivering our ambitions to make our India office a Center of Excellence while increasing its contribution to operating leverage for the Company.”
XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.