Irene M. Esteves, hired this week as chief financial officer for insurer XL Capital Ltd., with operations in Hartford, will draw a first-year base salary of $600,000, a regulatory filing shows.
Esteves, 51, officially takes over from May 17 from Simon Rich, XL Capital’s corporate controller who had been serving as interim CFO. She will report to XL CEO Mike McGavick.
According to a Securities and Exchange filing, Esteves is eligible for an annual bonus of up to 142 percent of her base pay. In addition to stock options, she also will receive long-term incentives for 2011 worth at least $1.75 million, the filing shows.
Esteves most recently was chief financial officer of Regions Financial Corp., a commercial and retail bank.
