Security Capital Assurance has appointed Jonathan Bank and Gardner Grant, Jr to its board of directors. Mr Bank has been appointed as a Class III director and Mr Grant has been appointed as a Class I director.

Mr Bank and Mr Grant will be members of the audit and the finance and risk oversight committees.

Mr Bank has over 40 years of experience in legal, regulatory, and restructuring issues in the insurance and reinsurance industries. He is currently of counsel with the Los Angeles office of Locke Lord Bissell & Liddell.

Mr Grant has over 25 years of legal, management and restructuring experience across a number of industries. Mr Grant is currently the managing member of GL Grant & Company, an independent consulting company providing advisory services to private and public companies on special situations.

Michael Esposito, Jr, chairman of Security Capital Assurance, said: We are pleased to welcome Jonathan and Gary as new members of the board. They bring a wealth of legal, financial and restructuring experience from within and outside of the insurance industry.