XL Capital Ltd announced that it has acquired the keys to offices at 70 Gracechurch Street, London, EC3, which will become its new London headquarters.
XL is to move to the new premises in the summer of 2004, consolidating its eight City of London based businesses – and more than 500 staff – under one roof. The new seven-story location will provide XL with 125,000 square feet of office space.
XL operating units and legal entities which are set to relocate include XL Re Ltd (London Branch Office), XL London Market Ltd, XL Insurance Company, Ltd, XL Capital Assurance (U.K.) Limited, XL Services (U.K.) Limited and XL Financial Solutions.
The decision to consolidate was taken after the continuing growth in XL’s businesses in London and Europe.
XL has acquired a 25 year lease from Synergy Gracechurch Limited, a company formed, financed and managed by Active Asset Investment Management (aAIM) – a new property advisory and fund management company. In a formal ceremony held Thursday, July 17, at 70 Gracechurch Street, founding aAIM investor Sir Alex Ferguson, manager of Manchester United Football Club, handed the keys to Clive Tobin, a member of XL’s Executive Management Board.
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