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The experienced pair will advise on insurance, reinsurance, weather risk, commodities and technology.
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Lee joins from guarantee firm Athene Holding, where she was an investor relations director.
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Former Markel underwriting executive Trevor Carvey will also be part of the leadership team.
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Incumbent Ethos CEO Rory Cline becomes executive underwriting officer for all of Ascot’s North America business.
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The executive will work alongside outgoing chief Richard Pryce for the next few months.
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The changes move away from a management structure built around types of business.
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The executive has more than two decades’ experience as a reinsurance broker, most recently at BMS Group.
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The former New Ocean and CIG Re leader is expected to join the start-up alongside other major market names.
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The Bermuda carrier will be an initial investor in Griffin Highline.
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The investment relations head will also join the group executive committee next month.
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Whiting had worked with the firm, which is planning further life ILS fundraising, since 2007.