New director at GlobalCapital

GlobalCapital plc has announced that Arun Shankardass has joined the board as an independent non-executive director and member of the audit committee.

GlobalCapital chairman Dawood Rawat said: "I am delighted Arun has joined the board. He is highly respected by the international investment community and the roles he has undertaken have given him considerable insight into all aspects of the global insurance industry, including its regulation and accounting. He will be a good advisor for our companies as we move ahead with our final phase of restructuring."

GlobalCapital appointed Shankardass as a non-executive director to strengthen its Malta operation further. His extensive experience as a former senior executive of major multi-national insurance companies will allow him to be a valued member of the board by giving objective input and advice based on his extensive industry expertise, particularly on issues of strategy, performance and resources.

Given his financial background and expertise as a chartered accountant and former Ttreasurer of Aviva, Shankardass has been nominated to chair the audit committee and also nominated to be appointed to the subsidiary board of GlobalCapital Life Insurance.

Shankardass is a leading senior finance executive with multi-sector corporate treasury expertise gained in three publicly listed groups - Lex Service Group, IC Gas & Aviva plc (formerly Commercial Union).. Shankardass retired as the assistant group treasurer at Aviva plc - the world's 6th largest insurance group and a Fortune 500 company.