Pillar Capital Names Stephen A. Velotti CEO
Pillar Capital Names Stephen A. Velotti CEO
HAMILTON, Bermuda--(BUSINESS WIRE)-- Pillar Capital Holdings Limited ("Pillar" or the "Company"), a Bermuda-based insurance asset manager focused on collateralized reinsurance and catastrophe insurance-linked securities, today announced that Stephen A. Velotti has been appointed Chief Executive Officer effective immediately.
Mr. Velotti, 46, brings nearly 25 years of insurance and reinsurance experience to the CEO role, including strong expertise in property underwriting. Mr. Velotti joined Pillar as Portfolio Manager on its formation in 2008. He was promoted to Chief Underwriting Officer in June 2009 and Chief Investment Officer in March 2011.
In announcing the appointment, the Pillar Board of Directors stated, "Steve has played an integral role in helping Pillar assemble a track record that has exceeded our expectations in our first five years of operations. His appointment as Chief Executive Officer is a natural next step for both Steve and the Company and we are looking forward to Pillar's future growth and success under his leadership."
"I am delighted to lead Pillar as we move to our next stage of growth," said Mr. Velotti. "We've just celebrated our five-year anniversary, a very significant milestone for the fund, and we're well positioned to execute on our strategic roadmap for the future. We enjoy the strong backing of an outstanding sponsor group led by our largest non-management investor, Transatlantic Holdings, and we are focused on expanding our investor base, adding more talent to our core team and scaling our operations. It's an exciting time for Pillar."
About Pillar Capital Holdings Limited
Pillar is a Bermuda incorporated investment manager focused on investing in insurance related instruments. Pillar seeks to identify opportunities in traditional (re)insurance instruments and financial market instruments whose performance is driven by underlying non-life insurance risk. The objective of Pillar is to create portfolios with attractive risk-reward characteristics and low correlation with other asset classes, utilizing Pillar's extensive reinsurance and capital market experience. Pillar was formerly Juniperus Capital. For more information, please visit http://www.pillar-capital.com/.
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