Montpelier Re Holdings Ltd. has appointed international financier Wilbur L. Ross, Jr. as a member of its Board of Directors of the Company. “The appointment was effective upon the closing on June 28, 2006 of the additional 3,448,276 common shares of the Company acquired by two investment funds managed by WL Ross & Co. LLC,” said the announcement. The share sale, announced in May, represents an investment of approximately $100 million by Ross in Montpelier Re (See IJ Website May 26).
Ross, Jr. owns and controls WL Ross & Co. LLC. Montpelier Re’s bulletin notes that he “organized International Steel Group in April 2002 and was Chairman of its Board. In April 2005, International Steel Group merged with Mittal Steel to form the largest steel company in the world. Mr. Ross remains as a Director of Mittal. In March 2004, Mr. Ross’s firm organized International Textile Group (ITG). Mr. Ross serves as Chairman of ITG and is also Chairman of the Board of the Nano-Tex affiliate of ITG.”
He also serves on the Executive Committee of the New York City Partnership, is a member of the Business Roundtable and is a Board member of the Japan Society, the Yale University School of Management, which has presented him with its Legend of Leadership Award, and the Whitney Museum of American Art.
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